Latest news with #KnoxHouseTrustees
Times
30-04-2025
- Business
- Times
Prince Andrew firm linked to millionaire husband of Michelle Mone
Prince Andrew's start-up firm was administered for two years by a company controlled by the millionaire Doug Barrowman, husband of Baroness Mone. After the Duke of York's disastrous BBC Newsnight interview in 2019 over his links to Jeffrey Epstein, legal ownership of his company Pitch@Palace Global passed to a Barrowman-linked company, Knox House Trustees (UK) Limited. Barrowman and Mone, the Tory peer, became mired in controversy after she admitted to lying about their links to a company that won millions of pounds worth of government contracts during the Covid pandemic. In 2020 Mone had lobbied ministers to award the lucrative contracts to PPE Medpro, a company closely linked to her husband, but failed to declare the connection on the House of Lords register of
Daily Record
29-04-2025
- Business
- Daily Record
Prince Andrew business linked to controversial millionaire husband of Michelle Mone
A prized business overseen by Prince Andrew was reportedly administered by a company controlled by Michelle Mone's controversial husband . The royal, the younger brother of King Charles, transferred the ownership of his Dragon's Den style competition Prince@Palace Global to a firm linked to Doug Barrowman for two years. The move came after Prince Andrew's disastrous Newsnight interview in 2019. Barrowman and lingerie tycoon Mone are currently under investigation from the National Crime Agency for medical equipment fraud. The couple had said they had no links to a company which won large government contracts during the pandemic but Tory peer Mone later admitted this was a lie. A lawyer for Barrowman told the BBC he "at no time... had any business or personal involvement with the duke". Pitch@Palace Global remained Prince Andrew's company and under his control. But it was owned under the names of other people or companies acting on his behalf. This is in line with royal practice. But documents filed at Companies House show that from 2021 the nominee owner was Knox House Trustees (UK). Knox House Trustees (UK) was controleld and owned by Barrowman until 2023. Mone and Barrowman are being investigated over the links they had to a PPE firm which made millions in profit during the pandemic. PPE Medpro was awarded contracts worth £203million in 2020 after Mone, appointed to the House of Lords by David Cameron, approached Tory ministers. She initially denied having any 'association' with the firm , but finally admitted last month this had been a lie. PPE Medpro has been accused of delivering faulty equipment to the UK Government during the pandemic. Mone and Barrowman have denied the allegations against them and say the gowns worked properly. To sign up to the Daily Record Politics newsletter, click here
Daily Record
29-04-2025
- Business
- Daily Record
Prince Andrew tied to controversial millionaire in fresh setback for King Charles
King Charles is preparing himself for another huge headache in relation to his younger brother, Prince Andrew, after fresh allegations have emerged about his firm's connection to a controversial PPE millionaire. The BBC reported that the Duke of York's business initiative, Pitch@Palace Global was administered for two years by Knox House Trustees (UK), which is a firm tied to contentious millionaire Doug Barrowman. Mr Barrowman and his wife, Baroness Michelle Mone, previously hit headlines when she confessed they had lied about their connection to a company that won large government PPE deals during the Covid-19 pandemic. The prince's firm passed its legal ownership to Knox House Trustees (UK) following Andrew's infamous Newsnight interview in 2019 regarding his ties to convicted sex offender Jeffrey Epstein, which consequently led to him stepping down as a senior working royal, the Express reports. The BBC stated that Pitch@Palace Global "remained the prince's company, under his control" but, in line with longstanding royal practice, it was "owned under the names of other people or companies, acting on his behalf as so-called 'nominees'". Companies House filings confirmed that from February 2021, that "nominee" was Knox House Trustees (UK) which at the time was owned by Mr Barrowman until 2023. The millionaire's lawyer said he "at no time... had any business or personal involvement with the duke". Pitch@Palace was first founded in 2014 to "provide a platform for UK entrepreneurs to make transformational connections that could accelerate their businesses". The firm consisted of two parts, a UK-based version "set up as a community interest company, which cannot pay profits to shareholders" and an international arm - Pitch@Palace Global Ltd - which "was set up as a for-profit UK company", according to the outlet. Pitch@Palace Global was later founded in 2017, in the name of Andrew's private secretary, Amanda Thirsk. The international arm was set up as a possible way for Andrew to fund his lifestyle, after quitting his royal duties. Its legal ownership was transferred to Knox House Trustees (UK) Limited in February 2021 - a business set up the year before and for which Mr Barrowman is said to have had "significant influence and control" over it. The BBC reported that corporate filings in the Isle of Man show Knox House Trustees (UK) was "ultimately owned by Knox Limited, whose sole shareholder is Mr Barrowman". Knox House Trustees (UK) Ltd's ownership was transferred in 2023 to Arthur Lancaster who is an accountant linked to both the duke and Mr Barrowman. Mr Lancaster additionally took on the role of director and shareholder of PPE Medpro - a company Mr Barrowman and Baroness Mone had links with and which she admitted they had previously lied about. Mr Lancaster refused to comment on the situation according to The BBC. The couple both refute any wrongdoing but the National Crime Agency is now investigating suspected criminal offences at the firm. Mr Barrowman's also raised eyebrows in 2017 after HMRC investigated one of his companies - AML Tax (UK). It was found that the company aggressively promoted external tax avoidance schemes. It was fined £150,000 in 2022 as a result. Author Andrew Lownie, who is writing a biography of the prince, told the outlet: "Andrew has a long history of associating with dubious business figures and disguising his business activities behind nominee and offshore accounts. There really needs to be a full investigation into the duke's financial activities." Mr Barrowman's lawyer said in a statement: "Mr Lancaster was a director of KHT (UK) Ltd which provided company administration services to a number of external companies, including Pitch@Palace, a company wholly owned by the duke. Mr Lancaster acted for the duke in a personal capacity at all times and has been an associate of the duke for many years."
Yahoo
29-04-2025
- Business
- Yahoo
Prince Andrew's firm linked to controversial PPE millionaire
One of Prince Andrew's prized business assets was administered for two years by a company controlled by the controversial millionaire Doug Barrowman, the BBC can reveal. After the prince's disastrous Newsnight interview in 2019, legal ownership of his Dragon's Den-style start-up competition, Pitch@Palace Global, was transferred to a Barrowman-linked firm, Knox House Trustees (UK). Barrowman and his wife, lingerie boss Baroness Michelle Mone, hit the headlines when she admitted they had lied about their links to a company that won large government contracts during the Covid pandemic after she recommended it to ministers. A lawyer for Mr Barrowman said he "at no time... had any business or personal involvement with the duke". Pitch@Palace Global remained the prince's company, under his control. But in line with longstanding royal practice, it was owned under the names of other people or companies, acting on his behalf as so-called "nominees". Documents filed at Companies House show that from 2021, the nominee owner was Knox House Trustees (UK), which was controlled and ultimately owned by Mr Barrowman until 2023. Prince Andrew's finances have been under intense scrutiny, with questions about how he can afford to live in his Royal Lodge mansion in Windsor after he was cut off financially by his brother, King Charles. The prince's choice of business associates has long been controversial. In December, he said he "ceased all contact" with Yang Tengbo, who led the Chinese arm of Pitch@Palace, after receiving advice from the UK government which alleged that he was a spy. Mr Yang has denied being a spy or doing anything unlawful. Mr Barrowman has attracted plenty of controversy too. In 2017, HMRC began an investigation into one of his companies, AML Tax (UK), which it said "aggressively promoted" tax avoidance schemes. It was fined £150,000 in 2022. In January that year, the Guardian newspaper first reported links between Mr Barrowman, Baroness Mone and PPE Medpro. The pair denied involvement until December 2023, when she admitted in a BBC interview that they had lied about their links with the company. The National Crime Agency is now investigating suspected criminal offences at the firm. Mr Barrowman and Baroness Mone both deny any wrongdoing. Author Andrew Lownie, who is writing a biography of the prince, said: "Andrew has a long history of associating with dubious business figures and disguising his business activities behind nominee and offshore accounts. There really needs to be a full investigation into the duke's financial activities." Pitch@Palace was a start-up competition, founded in 2014, where entrepreneurs would pitch their ideas to possible investors in the hope of winning their backing. It had two parts: a UK-based version, set up as a community interest company, which cannot pay profits to shareholders an international arm, Pitch@Palace Global Ltd, which held competitions in places such as Australia, Bahrain and China, and was set up as a for-profit UK company Both arms of Pitch@Palace suspended operations following the Newsnight interview in 2019 about the prince's links to the late sex offender Jeffrey Epstein, which led to Andrew stepping down as a working royal. Nonetheless, the international operation has emerged as a possible way for the duke to fund his lifestyle. In a court witness statement from 2023, Mr Yang wrote that the duke had needed money "and saw the relationships with China through Pitch as one possible source of funding". Earlier this year a Dutch company said it was in talks to buy it, saying it saw "immense value" in the network, even though it had suspended operations. However, Prince Andrew has never held the company in his own name. Founded in 2017, Pitch@Palace Global Ltd was initially held in the name of Amanda Thirsk, the prince's private secretary, in an arrangement often used by the Royal Family. But early in 2021, the legal ownership was transferred to Knox House Trustees (UK) Limited. This company had been set up the year before, and Mr Barrowman was named as having "significant influence and control" over it. Corporate filings in the Isle of Man show Knox House Trustees (UK) was ultimately owned by Knox Limited, whose sole shareholder is Mr Barrowman. In 2023, ownership of Knox House Trustees (UK) Ltd – which still owned Pitch@Palace Global - was transferred to Arthur Lancaster, an accountant who has a longstanding working relationship with both the prince and Mr Barrowman. This remains the situation today. The same year Mr Lancaster took over as the sole director and shareholder of PPE Medpro. He was also a director of many of the companies involved in the AML tax avoidance case. The judge in that case called him "evasive" and said he had "real concerns as to the reliability of Mr Lancaster's evidence", which contained "significant inconsistencies". After the case, his lawyer wrote to the court arguing that the conclusions were "unnecessarily harsh", that Mr Lancaster had been a "diligent and truthful witness", and that his efforts to provide information had been hampered by the Covid pandemic. For decades the Royal Family has held investments through nominees, and still does. In the past this has served to keep details of their holdings private, though not in this case. Prince Andrew's involvement in Pitch@Palace Global is well known, and he is listed as having "significant influence or control" over the company on Companies House. Mr Barrowman's lawyer said in a statement: "Mr Lancaster was a director of KHT (UK) Ltd which provided company administration services to a number of external companies, including Pitch@Palace, a company wholly owned by the duke. Mr Lancaster acted for the duke in a personal capacity at all times and has been an associate of the duke for many years." Mr Lancaster declined to comment. Prince Andrew did not respond to requests for comment.
