The Great Duke of York’s Princely Commission: Prince Andrew was allegedly to receive commission from a £375m deal in oil-rich Kazakhstan while acting as special trade envoy for Britain

‘In recent times ‘graft’ by highly placed persons has been all the rage.

Prince Andrew allegedly was set to collect commission from a £375m deal he brokered while acting as special trade envoy for Britain

The Duke of York called, emailed [Kazakh oligarch] Kenges Rakishev seeking for assistance two firms – Aras Capital, Zurich and EYDAP, Greece

Conflict of interest cited in performing in his former role as trade envoy while seeking personal gain from that role

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Prince Andrew brokered a £385million deal for a foreign consortium in corrupt Kazakhstan, it is claimed. The Duke of York was allegedly in line for 1% or  about £4 million in commission from the deal in the oil-rich country while acting as special trade envoy for Britain.
He used his position as a royal to facilitate the venture on behalf of Greek and Swiss clients, it is reported. Former Liberal Democrat MP Norman Baker said: “Prince Andrew’s continuing close relationship with questionable figures in Kazakhstan brings the royal family into disrepute.
“There are also serious questions about a conflict of interest in his former role as trade envoy which on the face of it seems to be more about enriching himself than helping the UK.”

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kazakhstan-map

Kazakhstan was part of the USSR

For his trouble, Prince Andrew was to be offered a commission fee of 1 per cent or around £3.83 million, a source of the water firm has revealed.
In the event, the deal collapsed when in late 2011, Kazakh police opened fire on a group of striking oil workers in the city of Zhanaozen, killing 14. Fearing they would be caught up in the turmoil, EYDAP pulled out.

tw6n7g56sw8ac6213ziiKazakh oligarch Kenges Rakishev

His spokesperson David Pogson initially denied the Prince had done any work for the Swiss and Greek firms. However, a newspaper provided the palace with emails Andrew had personally sent to Mr Rakishev on behalf of both EYDAP and Aras on April 14, 2011.
The Palace then suggested the emails were a forgery then tried to halt publication of the story on privacy grounds.
In 2007 Mr Rakishev brokered the mysterious sale of Prince Andrew’s former marital home in Berkshire. After languishing unsold for five years, the property was bought for £15 million, £3 million over the asking price, by an oligarch called Timur Kulibayev, the son-in-law of Kazakhstan’s president Nursultan Nazarbayev. Prince Andrew became UK special representative for international trade and investment in October 2001, but He announced his resignation in July 2011 following criticism of his friendship with controversial figures.

 

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