Queen's Son Quits Trade Role After Epstein Controversy

Jul 22 2011 | 11:29am ET

Britain's Prince Andrew is stepping down as the U.K.'s special representative for trade and investment in the wake of criticism of his relationship with former hedge fund manager and convicted sex offender Jeffrey Epstein.

Epstein reportedly helped pay off the debts of the Duke of York's ex-wife, Sarah Ferguson. He also allegedly arranged for prostitutes to meet with Andrew, allegations the prince has denied, and reportedly "attended naked pool parties and was treated to massages by a harem of adolescent girls" at Epstein's Palm Beach, Fla., estate.

Epstein was released from a 13-month house arrest last year for two counts of soliciting prostitutes. He still faces a number of lawsuits filed by some of the 40 or so young women he allegedly paid to give him nude, sexually-charged massages, and a federal child-trafficking probe.

Buckingham Palace has denied that the prince's friendship with Epstein has anything to do with his decision to "relinquish his role as the United Kingdom's special representative." Instead, it noted that other royals have been involved with U.K. Trade and Investment in recent years, and that Andrew, "after a successful 10 years," wished to be more involved in other roles.

The prince "will undertake trade engagements if requested," the Palace said.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.