Prince Andrew arranged a private tour of Buckingham Palace for businessmen from a cryptocurrency mining firm that had agreed to pay his ex-wife, Sarah Ferguson, up to £1.4 million, a BBC investigation has revealed. The visit took place in June 2019 while the late Queen was in residence, with Andrew’s Range Rover collecting Jay Bloom and Michael Evers from their Knightsbridge hotel and driving them through the palace gates, where security expected their arrival.
Once inside, the men were escorted by a greeter, and accounts differ on whether they briefly met the Queen, with Evers claiming a quick encounter and Bloom denying it. The palace was unable to confirm or deny the meeting, but the Queen was in residence that day for her weekly audience with the prime minister. This private access occurred while the palace was closed to the public, raising questions about the use of royal privileges for business gain.
Bloom co-founded Pegasus Group Holdings, which employed Ferguson as a brand ambassador to promote a solar-powered Bitcoin mining venture in the Arizona desert. Her leaked contract stipulated first-class travel, five-star hotels, and professional stylists for up to four events, and she received over £200,000 with a potential £1.2 million bonus. Ferguson’s role involved engaging with clients and investors, though she disclaimed expertise in the solar industry to avoid liability for commercial assessments.
The crypto-mining project promised to use 16,000 solar generators but only acquired 615, mining just $33,779 in cryptocurrency before failing. Investors lost millions, and legal action began in 2021, with a US arbitration tribunal awarding $4.1 million to investors in 2023. Bloom is appealing the decision, disputing allegations of misconduct and vowing to repay investors through established legal processes, while Evers expressed regret over his involvement.
The business relationship extended beyond the palace visit, including multiple dinners, a tour of Andrew and Ferguson’s home at Royal Lodge, and attendance at Andrew’s Pitch@Palace event. In September 2019, Ferguson participated in a high-profile ground-breaking in Arizona, flown in by helicopter with armed guards, where she praised the company’s philanthropic potential in Africa. Payments to Ferguson were made through Alphabet Capital, a British company, with Andrew also receiving funds from its owner, though the reasons remain unexplained.
Andrew’s actions add to concerns about the use of royal connections for private gain, amid his recent stripping of royal titles and planned move from Royal Lodge due to scandals linked to Jeffrey Epstein. The investigation highlights ongoing scrutiny of how Andrew and Ferguson fund their lifestyle, with neither responding to questions about repaying investors or their specific involvement in the Pegasus venture.
As the royal family navigates this controversy, it underscores broader issues of transparency and accountability, potentially affecting public trust in the monarchy. The story reflects long-standing worries about business dealings within royal circles and the legal and reputational consequences for Andrew, with implications for future royal conduct and public perception.