The monarch is reportedly ready to contribute personal funds following her son’s £12 million sex abuse trial agreement
Prince Andrew, the Duke of York, will pay Virginia Roberts Giuffre more than £12 million ($16.3 million) following an out-of-court settlement using money from the Queen, The Telegraph reported on Wednesday.
On Tuesday, the settlement was made. It means that Giuffre, 61, will not be facing trial for sexual abuse and rape allegations against him on three occasions. The case and settlement cannot be discussed in public by either side.
However, it is understood that Giuffre and her charity will receive a figure in excess of £12 million, according to the newspaper.
Queen Elizabeth II, who has already privately funded the Duke’s legal fight, has agreed to partly fund the settlement in an effort to draw a line under the allegations which have caused untold damage to the Prince’s reputation, The Telegraph reported.
The monarch’s contribution will reportedly come from her private Duchy of Lancaster estate. Income from the estate increased to more than £23 million ($31.2 million) in 2020, accounts show.
Prince Andrew’s personal wealth has long been the subject of much speculation; he currently receives a modest navy pension and an annual £250,000 ($338,775) stipend from the Queen.
He is selling the only asset he has, his Verbier chalet that he purchased in 2014 with his ex-wife. The chalet is worth some £17 million ($23 million).
In January the Queen removed all patronages and military titles from the Duke of York and he no longer has the title of HRH. He has become a non-working member of royal family.
He was planning to take on the US legal challenge over the alleged relationship he had with Giuffre, a 17-year-old girl.
Prince Andrew denies the allegation and claims that he has no memory of Giuffre.
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