Prince Andrew faces fresh blow as firm managing his investments shuts down
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Prince Andrew is facing another embarrassing blow after the firm managing his private investments has been shut down. The disgraced Duke of York had "significant control" over Urramoor Limited which was set-up in 2013 but the company has now applied to be struck off just a year after being rescued by a mystery donor.
According to accounts published last week, the company, which had staggering debts of £208,000, was solvent last year, after a £210,000 backing from a unnamed source in December 2023. But the 64-year-old, who set up the investment fund under the name HRH Andrew Inverness in 2013, was stripped off his UK trade envoy following his links with Jeffrey Epstein. It later emerged, the company failed to make any profit duing nine sets of accounts filed.
Meanwhile, documents showed more than £230,000 has been pulled from his Dragon's Den-style initiative Pitch@Palace. According to Companies House on December 30, the amount of cash held fell from £454,979 to £220,990 — during the financial year to March 31.
It comes as a Chinese spy who is believed to have close links to Prince Andrew was banned from the UK over fears he could compromise the royal. British authorities allege businessman Yang Tengbo — known only as “H6” until a High Court judge lifted an anonymity order Monday — was working on behalf of the United Front Work Department, an arm of the Chinese Communist Party that is used to influence foreign entities.
The Sunday Times said Mr Yang visited Buckingham Palace twice after being invited by Andrew, as well as attending events at St James’s Palace and Windsor Palace. He was described in court as having built up “an unusual degree of trust” with the royal. Mr Yang is understood to have met Lord Cameron at a Downing Street reception and Baroness May at a black-tie event, and kept the photos in his London office.
