A bankrupt company’s shady ‘loans’ to Sarah Ferguson are being investigated

It is nothing short of spectacular to see how thoroughly the wheels have come off the York train following Jeffrey Epstein’s mysterious death last year. This time last year, it was widely assumed that Andrew was flush with cash from unknown shady business deals, and that’s how he could afford a huge Swiss chalet and more. He’s also been “helping” his ex-wife’s finances for years, mostly through arranging his friends and business partners to simply loan Fergie money, money which (I assume) she never has to pay off. It’s startling to think of just how crazy it is that Fergie has never really been able to climb out of debt, and that she’s always “broke” or in desperate need of some kind of bailout. She’s a scammer and she’s bad with money, a terrible combination. Anyway, as soon as Epstein died, mysteriously the Yorks’ finances got really terrible. Suddenly, they could no longer afford the Swiss chalet. And we’re hearing more about all of these strange “loans” given to Fergie over the years.

This story is a bit dry, but here are the basics. In 2017, Fergie became the executive director of Gate Ventures, an entertainment-investment company founded by Geoff Morrow. Fergie came on board to help lift the profile of Gate Ventures. The company lost millions of pounds in a few years. And now mysterious loans from Gate Ventures to Fergie are being investigated:

The administrators of an entertainment company are investigating a number of unexplained transactions, including over half a million pounds in loans made to the Duchess of York. Insolvency practitioners from Quantuma are looking into the loans written by Gate Ventures to the duchess, who was a former director of the company, along with loss-making theatre investments linked to Lord Grade of Yarmouth, 77, the Chair of Gate, as reported by The Times. The Duchess of York, 60, was a director of the company between July 2017 and stepped down in December.

She received a £290,000 personal loan from Gate, while Ginger & Moss, a tea company that she set up, received a loan of £232,000. ‘Ginger . . . has not achieved material sales to date. We are investigating loans which have been made, together with how best to optimise this investment for the benefit of creditors,’ administrators recorded in proposals filed at Companies House.

The duchess is understood to believe that Gate also owes her money and is said to be in discussions with administrators. The business was placed in administration in March after it failed to fend of a High Court claim from Zheng Youngxiong, an investor who claimed that the business owes him £2.5 million. The High Court in London heard that Gate Ventures, was in ‘complete disarray’ and had lost £19million out of £24million invested.

[From The Daily Mail]

This company was so f–king shady that their charter was to finance theatrical shows and yet they were floating £232K loans to Fergie’s tea company for no reason? And she’s still trying to scam more money out of the now bankrupt company? Classic. But remember, the Queen has perfect judgment and Fergie and Andrew’s shenanigans are A-OK with the Queen and the royal establishment. It’s not like Fergie had a baby shower in New York or anything.

Photos courtesy of Backgrid, Avalon Red, WENN, social media.

Source: Read Full Article