Prince Andrew facilitated a private tour of Buckingham Palace for businessmen from a cryptocurrency mining firm that had a deal with his ex-wife, Sarah Ferguson, potentially worth £1.4 million. The firm’s crypto-mining venture later failed, facing investor lawsuits.
The company, Pegasus Group Holdings, employed Sarah Ferguson as a ‘brand ambassador’ for its crypto-mining scheme. The project aimed to use thousands of solar power generators to mine Bitcoin in the Arizona desert but ultimately failed, acquiring only a fraction of the planned generators and mining a minimal amount of cryptocurrency. Many investors later took legal action, alleging millions of dollars were unaccounted for, and a tribunal awarded them $4.1 million.
Jay Bloom, co-founder of Pegasus Group Holdings, and his colleague Michael Evers, were driven through the palace gates in the Prince’s car in June 2019. They were collected from their hotel and taken for the private tour while the late Queen was in residence.
Mr. Evers stated they briefly met the Queen, though Mr. Bloom disputed this. Both men also attended Prince Andrew’s Pitch@Palace event and dined with Andrew, Sarah Ferguson, and their daughter Princess Beatrice that evening.
Sarah Ferguson’s contract stipulated first-class travel, five-star hotels, and professional grooming services for up to four networking events on behalf of the company. The contract also stated she was not an expert on the solar industry and therefore assumed no responsibility for industry-related information or assessments used to promote the company.
The revelations raise further questions about the funding of Andrew and Sarah Ferguson’s lifestyles and their business connections, with concerns that the Prince may have used his royal titles for private gain. The BBC reported that Buckingham Palace has begun the process of stripping Andrew of his royal titles following intense criticism over his links to Jeffrey Epstein. Neither Andrew nor Sarah Ferguson responded to requests for comment on their involvement with Mr. Bloom and the crypto-mining venture.
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