Sarah Ferguson ‘has no plans to hand back £225,000 as it was green firm fee’


The Duchess of York received money which relates to work she did as a brand ambassador for US green energy company Pegasus Group Holdings, it has been claimed in court

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Prince Andrew stripped of military titles and royal patronages

The Duchess of York does not plan to voluntarily pay back hundreds of thousands of pounds she received from the company of an alleged conman, it has been reported.

Sarah Ferguson received £225,000 from Alphabet Capital Ltd, a business the High Court heard was a front for “apparent money laundering”.

T here is no suggestion that Sarah was engaged in money laundering.

Selman Turk, who is currently fighting Turkish woman Nebahat Isbilen in court, is accused in legal documents of setting up the company to move money around the world.

He denies the allegations.

A source close to the Duchess told Mail Online that the money, which was paid in installations, relates to work she did as a brand ambassador for US green energy company Pegasus Group Holdings.

Mail Online added that it was understood she has no plans to hand back the £225,000.

Mr Turk was put forward “as someone who would take on the debt and pay the duchess” in full, with Pegasus then paying him in installations, the paper reported.







The Duke and Duchess of York received money from the Mr Turk’s company, the court heard
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Image:

PA)

The Duchess is said to have considered Mr Turk a banker and “perfectly bona fide”.

A spokesman for Sarah said: “The duchess was completely unaware of the allegations that have since emerged against Mr Turk.

“She is naturally concerned by what has been alleged against him.”

The Duke of York and his ex-wife were named in a ruling on a High Court case featuring Mr Turk and Ms Isbilen last week.

A judge was told that “substantial sums” had been paid to Andrew and to Sarah.

Mrs Isbilen had needed assistance moving her assets out of Turkey after her husband was imprisoned there owing to his “political affiliations”, the judge had been told.






Selman Turk (front) is involved in the High Court case

Mr Turk, a businessman and former banker, had agreed to help Mrs Isbilen move her assets out of reach of the Turkish authorities.

Mrs Isbilen has alleged that Mr Turk “breached fiduciary obligations he owed to her” and “advances claims in deceit”.

Mr Turk is fighting the case.

The litigation is ongoing and has been heard at the High Court in London. A number of preliminary rulings have been published.

Judge Halpern said a lawyer representing Mrs Isbilen had told him, in an affidavit, that information had emerged to show evidence given by Mr Turk was “misleading”.

He said solicitor Jonathan Tickner had told him how evidence showed that “money was used for purposes unconnected with Mrs Isbilen, eg, substantial sums were paid to Prince Andrew, Duke of York, and to Sarah, Duchess of York”.

Judge Halpern said barrister Dan McCourt Fritz, who represents Mrs Isbilen, had told him that the “total sums which his client claims were misappropriated” amounted to some 50 million US dollars (about £38 million).







Prince Andrew received “substantial sums”, the court heard
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Image:

POOL/AFP via Getty Images)

“Mr Turk has provided explanations for approximately two thirds of these sums, most of which have been allegedly spent on professional or other fees or lost in bad investments,” the judge added, in his ruling.

“No explanation at all has been given for the remaining one third.”

Mr Tickner, who is head of fraud and commercial disputes at law firm Peters & Peters, said that Mrs Isbilen had trusted Mr Turk to help her through “extremely difficult” circumstances.

He added: “The court documents and decisions given in her case to date speak for themselves.”

A spokeswoman for Prince Andrew said: “We are unable to comment on ongoing legal proceedings.”




www.mirror.co.uk

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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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