Princess Eugenie has unexpectedly found herself at the center of growing concerns over her father, Prince Andrew’s, business dealings.
The controversy erupted after she appeared at an event in Japan linked to her father and an alleged Chinese spy, raising fresh questions about royal associations with international business ventures.
Eugenie’s Role in the Tokyo Event
Back in November, Eugenie was on stage in Tokyo, presenting awards to entrepreneurs who had secured investments through a partnership between Innovate Global and the Dutch firm Startupbootcamp.
Although she has no official business role in either company, her presence at the event has drawn scrutiny.
According to legal documents, Innovate Global is essentially a rebranded version of Pitch@Palace Global—Prince Andrew’s investment initiative that he was forced to abandon following his infamous 2019 BBC Newsnight interview about his ties to Jeffrey Epstein.
Links to a Banned Chinese Businessman
Further adding to the controversy is the involvement of Yang Tengbo, a Chinese businessman who once ran the Chinese division of Pitch@Palace. Yang was barred from entering the UK on national security grounds due to suspicions that he was working for China’s United Front Work Department.
Despite appealing this ban in 2023, his appeal was rejected.
In a legal statement made last year, Yang suggested that Pitch@Palace would continue under the name Innovate Global, with planned events across Japan, Malaysia, Thailand, the UAE, and China.
Prince Andrew, meanwhile, has been in discussions with Startupbootcamp to potentially sell his Pitch@Palace contacts, a move that could earn him millions.
Social Media and Public Reactions
A video from the Tokyo event, shared on social media, shows Princess Eugenie greeting entrepreneurs and handing out awards while cameras flash.
Reports suggest that she was already in Japan on a business trip for Hauser & Wirth, the art gallery where she works as an associate director, and agreed to attend the event at the request of an attendee.
Despite Prince Andrew’s tarnished reputation in the UK, his royal status remains influential in Japan and other countries connected to Innovate Global, which may explain the event’s enthusiasm for Eugenie’s participation.
Prince Andrew’s Business Ties Under Fire
Adding to the mounting concerns, it has emerged that Prince Andrew has also been assisting Waterberg Stirling, a financial firm that holds significant shares in Startupbootcamp.
The firm is currently looking to raise £8 billion, and it is claimed that Andrew has been leveraging his royal connections to help secure investments in the UAE, Bahrain, and Africa.
He even reportedly met with the Chinese ambassador to Britain to discuss business opportunities.
Waterberg Stirling’s vice-chairman, Oleg Firer, a former Grenadian ambassador to Russia, was expelled from Grenada in 2023 due to national security concerns.
Documents reviewed by the media also indicate that Yang’s consultancy firm was once Waterberg Stirling’s partner in China, prior to his alleged espionage activities being exposed.
Questions Over Royal Judgment
The involvement of Andrew, Yang, and Firer—each facing serious allegations or security concerns—has sparked fresh criticism of the Duke of York’s business dealings.
Former Lib Dem minister Norman Baker, a longtime critic of royal finances, condemned Andrew’s associations, stating: “It’s one disaster after another.
He surrounds himself with questionable figures, spies, and those with dubious backgrounds.”
Baker also took aim at Andrew’s continued residence in Royal Lodge, a vast royal estate, while seemingly using his royal connections for financial gain, calling it a “stain on the monarchy and a stain on this country.”
Official Responses and Unanswered Questions
Reports suggest that Andrew met with Oleg Firer at Windsor’s Royal Lodge last summer to discuss business matters.
When questioned, a spokesperson for the Duke of York stated that Waterberg Stirling was merely a stakeholder in Startupbootcamp and that any discussions were limited to business interests regarding the former Pitch@Palace network.
However, when asked about Eugenie’s presence at the Tokyo event, the spokesperson declined to comment.
Meanwhile, Firer has denied any wrongdoing, stating that his expulsion from Grenada was politically motivated and lacked legal justification.
Yang, for his part, continues to deny allegations of espionage.
As scrutiny builds, the royal family is once again under pressure to address the ongoing controversies surrounding Prince Andrew’s financial dealings—and now, his daughter’s unexpected involvement.
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