Andrew Mountbatten Windsor organized a private tour of Buckingham Palace in June 2019 for businessmen from a cryptocurrency mining firm, Pegasus Group Holdings. This company, co-founded by Jay Bloom, had agreed to pay Andrew’s ex-wife Sarah Ferguson up to £1.4 million for her role as a “brand ambassador” for a now-failed crypto venture.
During their visit, Bloom and his associate Michael Evers were driven to the palace in a car owned by Andrew. They reported being welcomed by staff and were subsequently invited to a business pitching event organized by the prince. Ferguson’s involvement included plans to utilize solar generators to mine Bitcoin in Arizona, a project that ultimately proved unsuccessful, acquiring only a fraction of the intended equipment and generating limited cryptocurrency.
Following the firm’s collapse, investors initiated legal action in 2021, claiming mismanagement of funds. A tribunal awarded them $4.1 million, although Bloom is appealing this decision. The circumstances of Ferguson’s and Andrew’s financial situations, along with their business dealings, have drawn scrutiny, particularly regarding the use of royal connections for personal gain.
In recent developments, Buckingham Palace announced it was beginning the formal process of stripping Andrew of his royal titles, a decision linked to his connections with Jeffrey Epstein and widespread criticism surrounding his financial activities.
Ferguson’s contract with Pegasus reportedly included substantial payments and perks, including first-class travel, while also disavowing expert status in the solar industry. The nature of her contract, which involved a third party, Alphabet Capital, raises additional questions about financial accountability.
Despite inquiries, both Andrew and Ferguson have not provided responses regarding their involvement with Pegasus or plans to reimburse investors. Evers expressed regret over his association with the firm, stating that efforts to recover funds are ongoing.
Source: https://www.bbc.com/news/articles/cy5q05v0q1xo?at_medium=RSS&at_campaign=rss