Yes indeed! It’s depressing really how we are all so easily blinded! Harry and Meghan have been a godsend to the RF in that regard.
The Dumfries House episode in Norman Baker’s book gets even more fascinating. Too long to quote here but the house cost £43 million. And after a lot of fund-raising Charles still had a £20 million funding gap so he secured a loan based on the waterlogged farmland around the house, where Charles intended to build a Scottish Poundbury called Knockroon.
But what is mind-boggling to me is that the local Council had already rejected planning applications for building on this site! But they then apparently capitulated once a Prince was involved (as Charles was then) even though planning law is of course meant to be applicant neutral.
There was still a funding gap which was plugged between 2009 and 2011 via a now defunct investment bank, based in the British Virgin Islands, part of a network of more than seventy offshore companies, according to Baker, who handled billions of Russian dollars, managed by Ruben Vardanyan who strongly denied any criminal activity when interviewed by the BBC.
He said the donations were intended to “preserve architectural heritage in England” despite Dumfries House being in Scotland! And this helped to develop a relationship between him and Charles. In 2013, Charles visited Armenia where Vardanyan was establishing a college, where a tree-lined alley was named Prince Charles alley. Armenian students studied at Dumfries House and Charles thanked the donors. Vardanyan raised a further £1.5 million from
assorted Russian businessmen for which Charles threw a black tie dinner in 2014.
Norman Baker continues the story…
Obviously there was concern from UK government officials who made clear they wanted to see better due diligence before British institutions accept money from offshore foreign companies.
As for the proposed building at Knockroon, the Scotsman reported that of the 770 homes planned, only 31 had been completed and only half of those were owned by members of the public. This may have changed since the book was written. Not sure! But Baker states that the majority were sold to millionaire benefactors.
More financial murkiness is described and I should make it clear that all of this was investigated by The Office of the Scottish Charity Regulator which concluded its investigation in to The King’s Foundation Foundation (formerly The Prince's Foundation) with a finding that while the historical governance sometimes failed to meet standards for decision-making and record-keeping, there was no evidence of misconduct by any trustees. OSCR is satisfied with the improvements made to governance practices and no longer has concerns about the overall health of the charity.
https://www.bbc.co.uk/news/business-47441114.amp
https://www.cumnockchronicle.com/news/23737117.dumfries-house-princes-foundation-metropolitan-police-investigation/
´