Prince Charles is reportedly set to lend Prince Andrew up to £7 million to pay the Virginia Guiffre’s sex abuse case settlement.
Just last month the Duke of York and Virginia reached a financial agreement over her sexual abuse claim, with some reports claiming the sum is as much as £12 million.
While it has been reported the Queen has been called upon to help her 62-year-old son with the payout, it has since been claimed Andrew’s older brother will provide the majority of the financial settlement to reach the 10-day deadline.
Reports have claimed the financial settlement will not be public cash.
A source told The Sun: “[They will] take a little from here and a little from there.”
Once Andrew pays the settlement within the 10-day period, he will aim to repay the Prince of Wales with funds from the sale of his ski chalet in Switzerland.
“Once it (money from the chalet) hits his bank account, he can pay back his brother and whoever else has lent him money.
“But that payment (to Virginia) has to be paid on time. He can’t rely on selling the chalet. Too many things can go wrong and the court won’t wait for property queries”, the source added.
Since leaving the Royal Navy, Andrew’s main income has been his £249,000-a-year allowance from the Queen as payment for his royal duties. He also receives a pension, reported to be £20,000 a year from the Navy, and the sale of his Verbier property could take two months, or longer to sell, which is why he has called on his family to help.
A friend of Andrew, told the publication: “He has no income or money to repay a bank loan so the family is the only way to guarantee the payment.”
Although Andrew and Virginia reached a settlement, it is not an admission of guilt.
The Queen’s second son found himself involved in the case due to his close relationship with Jeffrey Epstein and Ghislaine Maxwell, and the reports made by, Virginia, formerly Roberts, that she was allegedly brought to the UK aged 17 to have sex with the royal. According to Giuffre, she was introduced to Prince Andrew by Ghislaine.
Andrew has already lost various royal privileges. He’s been stripped of his military and HRH titles and is at risk of losing his police protection. However, he is keeping his service rank of Vice Admiral.
We will continue to keep you updated.