Michaela
Prince Andrew reportedly organized a private Buckingham Palace tour for U.S. businessmen Jay Bloom and Michael Evers, founders of the crypto mining firm Pegasus Group Holdings, while Queen Elizabeth II was in residence. The company had previously hired his ex-wife, Sarah Ferguson, as a brand ambassador under an agreement worth up to £1.4 million (approximately $1.87 million).
Key points:
- Prince Andrew allegedly arranged a private Buckingham Palace tour for U.S. crypto businessmen linked to Pegasus Group Holdings, which had hired his ex-wife Sarah Ferguson under a contract worth up to $1.87 million.
- The company’s Bitcoin mining venture in Arizona collapsed within a year, leaving investors millions in losses and sparking a $4.1 million tribunal ruling against Pegasus executives.
- The revelations have renewed scrutiny over Andrew and Ferguson’s financial dealings as Buckingham Palace begins the process of stripping Andrew of his remaining royal titles.
According to a BBC report, in 2019, Bloom and Evers were chauffeured through Buckingham Palace gates in Prince Andrew’s personal vehicle after being picked up from their hotel. Their company, Pegasus Group Holdings, had hired Ferguson as a “brand ambassador” for what the BBC described as a “crypto-mining scheme” that collapsed within a year, leaving investors millions out of pocket.
Evers and Bloom were invited by Prince Andrew to attend his Pitch@Palace event later that day, followed by a private dinner that evening, which was also attended by Sarah Ferguson and their daughter, Princess Beatrice. At the time, Ferguson, then still the Duchess of York, was collaborating with Pegasus Group Holdings, a company promoting a project to deploy thousands of solar-powered generators for Bitcoin mining in the Arizona desert.
Ferguson reportedly earned more than $250,000 for her role with Pegasus Group Holdings, with a potential bonus worth around $1.4 million and a stake in the company, which aimed to use solar power to mine Bitcoin. Her contract included first-class travel, luxury accommodation, and personal grooming services for company events, while noting she was not an expert in the solar industry and bore no responsibility for related claims.
The initiative ultimately collapsed, with only 615 of the intended 16,000 generators ever purchased and approximately $33,779 (£25,000) worth of cryptocurrency produced. In April 2021, several investors filed a lawsuit alleging that millions of dollars in investment funds were missing. A tribunal later awarded the group $4.1 million, though Bloom is currently seeking permission to appeal the ruling.
The latest revelations have intensified scrutiny over how Andrew and Ferguson have financed their lifestyle, renewing questions about their business dealings and prompting concerns that the former prince may have leveraged his royal status and connections for personal benefit.
The developments come as Buckingham Palace announced Thursday that it has begun the formal process of removing Prince Andrew’s remaining royal titles, following mounting public criticism over his association with the late billionaire Jeffrey Epstein.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
