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Duke of York Agrees Settlement With Millionairess After Being Dragged Into Complex Legal Case

Prince Andrew, the Duchess of York and their daughters received £1.4m from former banker accused of stealing £40m from wife of a Turkish MP

BBC 22 NOV 2023

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The Duke of York has reached a confidential settlement with a Turkish millionairess after accepting huge sums of her money from an alleged fraudster

Prince Andrew, 63, his ex-wife the Duchess of York, 64, and their daughters, received a series of payments totalling some £1.4 million from Selman Turk, a former Goldman Sachs banker accused of stealing £40 million from Nebahat Evyap Isbilen.

The Yorks were dragged into a complex legal case after Mrs Isbilen, 77, sued Mr Turk and various offshore companies over the missing money and issued contempt proceedings over an alleged breach of a court order.

The High Court court heard on Tuesday that the Duke and Duchess, who still live together, had reached a settlement with Mrs Isbilen.

Although the terms were not disclosed, any financial transfer is likely to have been considered repayment for the large amount of cash that had found its way into their bank accounts.

Most of the money was paid via a UK-based company called Alphabet Capital.

Mr Turk, 37, argued that an agreed statement of fact, signed by the Yorks and Mrs Isbilen, which included references to the various payments but was not read out in court, was “plainly self-serving” and “presumably prepared as a quid pro quo” for settling Mrs Isbilen’s claim against the Yorks and others.

James Counsell KC, representing Mr Turk in the contempt case, said his client had not been privy to the negotiations leading to the settlement.

“He has no independent knowledge of the statement,” he said. “He has been given no opportunity to cross-examine the parties to the settlement.”