Arab Press

بالشعب و للشعب
Sunday, Jul 06, 2025

Prince Andrew, the banker … and a mystery £750,000 ‘wedding gift’

Prince Andrew, the banker … and a mystery £750,000 ‘wedding gift’

Entrepreneur Selman Turk is being sued by a Turkish millionairess, in a case involving a payment to the Duke of York.
When the Turkish entrepreneur Selman Turk launched a new digital bank three years ago, he was entering a crowded market of online start-ups hoping to grab business from the traditional banks.

It seemed there was little to distinguish the new London-based venture, Heyman AI, from a host of other contenders. It had a rudimentary website, meagre funding compared to some of its digital rivals and no banking licence. “We are building a good bank for good people,” said its website. A footnote added that it was “in the application process” to become a bank in the UK.

But just seven months after the new venture was launched, a besuited Turk was on stage with the Duke of York at St James’s Palace collecting a people’s choice award in the prestigious Pitch@Palace event. The competition on 6 November 2019 was Prince Andrew’s version of the BBC show Dragons’ Den, but with a priceless royal cachet. It was a spectacular coup for former Goldman Sachs banker Turk and his fledgling bank, but did not secure the future of the firm, which was wound up in September last year.

It emerged last week that Turk, 35, is being sued by a Turkish millionairess, Nebahat Evyap Isbilen, 77, who claims she was defrauded by him. She is seeking the return of about £38m. He disputes the allegations.

Turk helped manage Isbilen’s financial affairs, and the court documents claim Turk instigated a payment of £750,000 to be made to Prince Andrew, just nine days after he picked up the award at St James’s Palace.

The money, from Isbilen’s private bank account, has since been repaid, but raises new questions for Prince Andrew: were he and his advisers aware the payment was linked to Turk, and what was the money for? Prince Andrew is not central to the complex high court proceedings and is not accused of any wrongdoing.

In her statements to the high court, Isbilen said she was told by Turk that the payment was a gift for Prince Andrew after it was claimed he helped arrange a replacement passport.

She also said she had seen an email from Turk to her private bank, Hampden & Co, stating the payment was a wedding gift for Princess Beatrice, who married the property tycoon Edoardo Mapelli Mozzi in July 2020.

Isbilen has told the court she considered the claims concerning Prince Andrew’s purported role in arranging a passport or that the money transfer was a wedding gift were both false.

In an extraordinary transcript of a call published by the Daily Mail yesterday, Amanda Thirsk, Prince Andrew’s former private secretary and the former director of Pitch@Palace, allegedly told a banker from Hampden & Co conducting compliance checks that she believed the money was a gift. She is claimed to have said: “I understand it’s a gift for the wedding…What she [Beatrice] and her family decide to do with it is really to do with them, isn’t it?” Thirsk told the Mail she could not recollect the call, but would not have been involved in anything improper.

It has also been reported that Prince Andrew’s former wife, Sarah Ferguson, also received payments of at least £225,000 from Turk via a company called Alphabet Capital, said to be in connection with payment she was owed for her work with a solar power company. Her spokesperson has said she was completely unaware of the allegations which have now emerged.

Isbilen is a member of the Turkish family that owns the Evyap group of companies, which has a range of soap and personal care brands. Her husband, Ilhan Isbilen, is the former deputy leader of the ruling AK party, and has been a political prisoner in Turkey since 2015.

Isbilen says she gave Turk effective control of funds of $87.5m (£66.7m) and that he “dishonestly and systematically” abused the trust she placed in him. She said she had limited ability to understand English and required help to move her assets out of Turkey. She claims he dishonestly mismanaged her funds.

Pitch@Palace was founded by the Duke of York in 2014 to “amplify and accelerate the work of entrepreneurs”. The programme had aimed to help businesspeople “make connections” and secure investment.

Its future was, however, in peril at the time Turk picked up the award for his bank.

Prince Andrew had given his notorious BBC Two Newsnight interview 10 days after the awards ceremony, triggering a public backlash. Companies including KPMG, Barclays, Bosch and Standard Chartered subsequently ended their sponsorship of Pitch@Palace. Its future activities are now under review.

Prince Andrew’s spokesperson has said there will be no comment on an ongoing court case.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Qatar Airways Clears Backlog of Passengers Following Missile Threats
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
×