As questions grow over who funded the York sisters’ lavish lifestyles, how a Libyan gun smuggler was invited to Eugenie’s wedding, while bride Beatrice received ‘£750,000 as a gift’ from Turkish millionairess

Speculation grows over funding of York sisters’ extravagant lifestyles

A new book has unveiled insights into the substantial ‘wedding gifts’ bestowed upon Princesses Eugenie and Beatrice, fueling renewed scrutiny of Andrew Mountbatten-Windsor’s financial activities. Historian Andrew Lownie’s work in Entitled highlights how a convicted Libyan gun smuggler, Tarek Kaituni, was present at Eugenie’s nuptials and had gifted her a £18,000 diamond necklace for her 21st birthday. Meanwhile, a Turkish millionairess, Nebahat Isbilen, allegedly transferred £750,000 into the disgraced Duke’s personal bank account, reportedly for Beatrice’s ceremony.

The book ties these mysterious attendees and their generous contributions to the princesses’ parents and their financial strategies over the years. This connection has raised doubts about the sources of the daughters’ opulent jet-setting lifestyles during their formative years.

2018 wedding and connections to offshore entities

In 2018, when Eugenie married Jack Brooksbank in a fairy-tale ceremony at Windsor Castle, a Hong Kong tycoon joined the VIP guest list. Dr. Johnny Hon, a familiar figure to the Duchess of York, was present. His association with Sarah Ferguson, who had recently become a non-executive director at Gate Ventures—a venture capital firm he chaired—was noted.

“I just remember thinking, ‘How did he get through…’”

Disputes emerged shortly after, as Chinese investors contested the company’s practices. They accused Gate Ventures of providing misleading information about loans to Ginger & Moss, a company founded by the duchess. Of the £24 million raised, £19 million was claimed to have been “lost” in the process.

Further reports alleged extravagant spending at Gate Ventures, alongside unusual transactions with offshore firms and deals involving its directors. A notable example was a loan to former partner Manuel Fernandez’s company, vVoosh, which included the duchess’s investment.

Controversies and financial implications

According to Lownie, Sarah Ferguson was recruited to aid in foreign expansion, yet this led to Dr. Hon “bankrolling the royals.” He charged £3 million in expenses, including £8,000 for a tea meeting with the Duchess of York. A judge remarked, “That is not the purpose for which these small Chinese investors paid their money into the company.”

Dr. Hon maintained that all costs were “for the benefit of Gate and legitimate business expenses,” insisting, “No part of the spending was for my personal benefit or enjoyment. It was hard, often exhausting, but necessary work.”

Despite his claims, the payment of £750,000 to Andrew’s account in 2019 became a focal point of scrutiny. Nebahat Isbilen, who was suing Selman Turk for £40 million at the time, alleged the funds were misused. Turk claimed the money was intended to help Isbilen secure a Turkish passport, while Andrew’s office told her, “It is a gift for the cost of the wedding or a gift to Princess Beatrice… I mean, I’m not sure it makes much difference, does it? I think it’s a gift for the wedding… What she and her family decide to do with it is really to do with them, isn’t it?”

The payment occurred just nine days after Turk won an award at Pitch@Palace for his digital bank concept, which sources described as “appalling.” These events have further complicated the narrative around Andrew’s financial ties and the role of external contributors in supporting the royal family’s lavish expenditures.