Police on Saturday night faced calls to probe an offshore company that appears to have been established to help Andrew Mountbatten-Windsor ‘cash in’ on his secret deals when he was trade envoy.
Documents obtained by The Mail on Sunday reveal that Andrew jointly owned a company called Inverness Asset Management (IAM) with his friend, property tycoon David Rowland.
IAM was registered in the British Virgin Islands, a secretive Caribbean tax haven, in 2007 and was only wound up in 2019.
It appears to have been used to lure the former prince’s wealthy contacts to invest in a tax-free offshore fund.
Under a plan first exposed by the MoS, IAM was to target super-rich investors, many of whom Andrew would have met during his time as Britain’s trade envoy, and persuade them to put vast sums of money into an investment fund called Blackfish Money Plus+ Fund.
This fund was structured in the Cayman Islands, another tax haven, and only those willing to plough in $1million would be allowed to join the fund.
A document outlining the fund said: ‘The introductions will largely be from the contacts of IAM, consisting of royal families, high-net-worth families, heads of state and government institutions.’
Mike Wood MP, shadow Cabinet Office minister said: ‘These allegations are deeply concerning and the police must urgently investigate the matter to establish the full facts.’
Documents obtained by The Mail on Sunday reveal that Andrew Mountbatten-Windsor (pictured, at the Duchess of Kent’s funeral last September) jointly owned a company called Inverness Asset Management (IAM) with his friend, property tycoon David Rowland
The company appears to have been used to lure the former prince’s wealthy contacts to invest in a tax-free offshore fund. Pictured: Andrew with Mr Rowland at Ascot in 2006
Andrew, who was nicknamed ‘Air Miles Andy’ when he was trade envoy between 2001 and 2011, lived like a billionaire, holidaying on luxury yachts and travelling by private jet. Pictured: The former prince on holiday in Phuket, Thailand, in 2001
His fleet of cars included a green Bentley, while in 2014 he and ex-wife Sarah Ferguson bought a £13million ski chalet (pictured) in the Swiss resort of Verbier
The leaked papers reveal how Andrew had a 40 per cent stake in IAM, while the Rowland family owned 60 per cent via their company Blackfish Capital Management.
The firm was described as the result of a ‘long-standing relationship’ between David Rowland and Andrew ‘whereby DR [David Rowland] has acted as adviser and mentor with regards to both general financial matters and specific investments’.
Andrew, who was nicknamed ‘Air Miles Andy’ when he was trade envoy between 2001 and 2011, lived like a billionaire, holidaying on luxury yachts and travelling by private jet.
For years he boasted a collection of expensive watches, including a £150,000 Patek Philippe and £12,000 gold Apple Watch.
His fleet of cars included a green Bentley, while in 2014 he and ex-wife Sarah Ferguson bought a £13million ski chalet in the Swiss resort of Verbier.
It is unclear whether the Blackfish Money Plus+ Fund ever operated but another document indicates IAM received a $640,000 payment from a different Blackfish fund in December 2008.
Royal author Andrew Lownie said: ‘The police clearly have to look at Inverness Asset Management and this offshore fund as part of their investigation.
‘It raises a host of deeply worrying questions about whether these were used by Andrew to make money from his time as trade envoy.
‘For years, the prince appeared to be living the life of a billionaire playboy despite having a limited income, and this fund could explain how he pulled it off.’