A BBC investigation has uncovered troubling connections between a royal property transaction and funds originating from criminal corruption schemes. Prince Andrew, Duke of York, received £15 million in 2007 for the sale of his Sunninghill Park mansion to Timur Kulibayev, the influential son-in-law of Kazakhstan’s then-president Nursultan Nazarbayev.
Financial records reveal that Kulibayev utilized a loan from Enviro Pacific Investments, a company subsequently implicated in bribery schemes by Italian prosecutors, to facilitate the purchase. Court documents from 2016-2017 Italian cases demonstrate that Enviro Pacific received millions from corruption networks, with the final payment occurring merely weeks before the Berkshire property transaction was finalized.
Kulibayev, who held commanding positions in Kazakhstan’s oil and gas sector through the sovereign wealth fund Samruk-Kazyna, maintained through legal representatives that the funds were entirely legitimate and that he had no involvement in corruption. His attorneys confirmed the commercial loan from Enviro Pacific but declined to disclose the company’s ownership, citing confidentiality.
The transaction exhibited multiple concerning characteristics, including a purchase price £7 million above market value, utilization of opaque offshore structures through Unity Assets Corporation, and the buyer’s status as a public official in a nation where the UK government had expressed concerns about ‘systematic corruption.’
Money laundering expert Tom Keatinge, Director of the Centre for Finance and Security, identified ‘blatant red flags’ that should have triggered enhanced due diligence. Margaret Hodge, the government’s anti-corruption champion, expressed being ‘utterly shocked’ and called for parliamentary investigation.
Despite his role as UK trade envoy and proximity to the throne, Prince Andrew’s legal representatives at Farrer & Co did not identify the ultimate purchaser until media reports revealed Kulibayev’s involvement three years post-transaction. The former prince previously stated he wouldn’t ‘look a gift horse in the mouth’ regarding the inflated price.
The property remained vacant following purchase and was ultimately demolished in 2016. Recent developments indicate Kazakhstan’s current government is pursuing corruption cases related to the Nazarbayev era, though Kulibayev maintains his wealth was legitimately acquired through decades of business activity.