Summary
Andrew Mountbatten Windsor arranged a palace tour for men from a cryptocurrency company connected to his ex-wife Sarah Ferguson. The company agreed to pay Ferguson up to £1.4 million, and the venture eventually failed, losing investors millions. Buckingham Palace is now taking steps to remove Andrew's royal titles following criticism over his associations and financial dealings.
Key Facts
- Andrew arranged a visit to Buckingham Palace for two men from a crypto-mining firm, while the Queen was in residence.
- The company, Pegasus Group Holdings, employed Sarah Ferguson as a brand ambassador, promising her payments up to £1.4 million.
- Pegasus Group Holdings' project failed, acquiring only a small fraction of the planned equipment.
- Investors lost millions, with a tribunal later awarding them $4.1 million.
- Buckingham Palace plans to strip Andrew of his royal titles after criticism of his connections.
- Sarah Ferguson's contract involved fees for luxury travel and appearance services for company events.
- The crypto-mining venture aimed to use solar power to mine Bitcoin but did not achieve its goals.
- Sarah Ferguson met Jay Bloom, a co-founder of Pegasus, during a book promotion event, leading to their business partnership.
