Businessmen behind a failed crypto-mining venture met the Duke of York at Buckingham Palace in 2019 after hiring his ex-wife as a “brand ambassador.”
Prince Andrew reportedly arranged a private Buckingham Palace visit for the owners of a cryptocurrency mining firm that had signed a £1.4 million deal with his ex-wife, Sarah Ferguson, according to an investigation by BBC. The visit took place in June 2019, while Queen Elizabeth II was in residence, raising fresh questions about how royal access was granted for business purposes.
The Palace Visit and the Crypto Deal
Jay Bloom and Michael Evers — co-founders of Pegasus Group Holdings, a now-defunct U.S.-based crypto-mining firm — were driven through Buckingham Palace’s gates in Prince Andrew’s own car after being collected from their luxury Knightsbridge hotel.
Once inside, the pair were escorted by palace staff for a private tour. At the time, Pegasus Group Holdings had hired Sarah Ferguson as a “brand ambassador” for a large-scale crypto-mining project in the U.S. desert. The agreement was reportedly worth up to £1.4 million for Ferguson, who promoted the venture before it collapsed less than a year later, costing investors millions.
Business Links and Fallout
Mr. Bloom — a Las Vegas-based entrepreneur known for a failed Mafia-themed museum — and Mr. Evers, a former actor, were seeking to attract investors for Pegasus’s energy-intensive mining operations. The company’s collapse left investors facing substantial losses, with allegations of mismanagement and misleading claims about the project’s profitability.
While there is no evidence that Prince Andrew profited from the arrangement, the episode adds to long-standing scrutiny over his use of royal connections in dealings with wealthy business figures.
Royal Response and Public Scrutiny
Buckingham Palace has not commented on the 2019 meeting, while representatives for Sarah Ferguson said she entered the business relationship in good faith.
The revelation comes as the royal family continues to distance itself from controversies surrounding Prince Andrew’s private ventures. His involvement in facilitating access to royal premises for businessmen with commercial ties to his ex-wife is likely to renew questions about judgment and accountability within royal circles.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.