It seems that Prince Andrew just can’t stay away from controversy.
Despite past scandals and repeated warnings, he has once again found himself involved with questionable figures in a new business venture that stretches across multiple countries.
This time, his business dealings include connections with individuals who have been flagged as national security risks by different Commonwealth nations.
A Troubled Business Alliance
Prince Andrew has been in discussions with Oleg Firer, a businessman and former ambassador to Russia for Grenada.
Firer was expelled from Grenada in 2023 after being detained at immigration and labeled a national security threat due to alleged financial misconduct.
Court records indicate that Firer was accused of financial irregularities that left the Grenadian government with a hefty bill for an embassy he personally opened in Moscow.
Although he denies any wrongdoing, the country has effectively barred him from returning.
Instead of keeping a low profile after his diplomatic fallout, Firer turned his attention to high-profile partnerships.
This led him to Prince Andrew, who was reportedly looking for new financial opportunities following the collapse of his previous business engagements due to his well-documented scandals.
The Desperate Search for Financial Backing
Following the fallout from his disastrous BBC Newsnight interview about his links to Jeffrey Epstein and Ghislaine Maxwell, Prince Andrew found himself shunned by business circles.
His once-thriving startup investment program, Pitch@Palace, was significantly impacted.
Moreover, King Charles had been subsidizing Andrew’s lifestyle, including the maintenance of his massive 30-room Royal Lodge residence.
However, with financial support from the monarchy becoming uncertain, Andrew needed a new source of income.
That’s where Firer and his business partner, Adnan Sawadi, stepped in.
The pair proposed a plan to revive Pitch@Palace’s global network through their company, Waterberg Stirling, which also had stakes in the Dutch startup investment firm, Startupbootcamp.
More than just a business move, their plan leveraged Andrew’s royal title to gain credibility in certain global markets, despite his tarnished reputation in Britain.
Connections to Chinese Interests Raise Eyebrows
Waterberg Stirling’s ambitions extended to China, and they looked to Andrew for assistance.
A letter sent by Adnan Sawadi to the Chinese ambassador in the UAE described Waterberg Stirling as a “global investment company” representing Prince Andrew’s ongoing business interests.
The letter even claimed that the company enjoyed high-level support from governments and royal families worldwide, including the UK and China.
However, things took a more alarming turn when it was revealed that one of Andrew’s alleged associates in this venture was Chris Yang, a Chinese businessman who had been banned from the UK in 2023 due to national security concerns.
Yang was suspected of acting on behalf of China’s United Front Work Department, which is believed to engage in political influence operations overseas. Documents from Yang’s appeal revealed that he had gained the trust of a “senior member of the Royal Family” and was involved in joint business ventures with them.
Prince Andrew’s Role in the Business
Despite growing scrutiny, Andrew’s exact role in Waterberg Stirling remains murky.
When questioned about whether he knew how his name and royal title were being used in the company’s dealings, his spokesperson simply echoed the explanation given by Sawadi—saying that it was all part of a “sales pitch” to attract Chinese investors.
Additionally, one of Andrew’s close associates, Dominic Hampshire, a former Army captain and ex-equerry to the Duke of Kent, has played a key role in Waterberg Stirling.
Hampshire reportedly communicated with the Chinese ambassador to the UK on Andrew’s behalf, seeking new business opportunities and guidance. His messages referred to Andrew as “His Royal Highness,” further suggesting that the prince’s royal status was being leveraged in the venture.
A History of Questionable Associations
Prince Andrew’s latest involvement with controversial figures is hardly an isolated incident.
Over the years, he has maintained connections with multiple individuals with troubling backgrounds.
In 2007, his former mansion, Sunninghill Park, was mysteriously sold for £3 million above its asking price to a Kazakh billionaire linked to the ruling family of Kazakhstan.
Additionally, Andrew has had ties to Saif al-Islam Gaddafi, the son of Libyan dictator Muammar Gaddafi, and accepted hospitality from Tarek Kaituni, a convicted arms smuggler who facilitated secret meetings with Gaddafi.
What’s Next for Prince Andrew?
Despite the swirling controversy, Andrew appears to be pressing forward with his business dealings.
His close confidante, Dominic Hampshire, has vowed to remain on Waterberg Stirling’s board, ensuring the prince stays informed about the company’s progress.
The big question remains: Will Prince Andrew ever learn from his past mistakes? Or will his continued involvement with questionable figures only add to his already damaged reputation?
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