Prince Andrew, the Duke of York, will pay Virginia Roberts Giuffre more than £12 million ($16.3 million) following an out-of-court settlement using money from the Queen, The Telegraph reported on Wednesday.
The settlement, which was announced on Tuesday, means the 61-year-old will no longer face trial over allegations that he sexually abused and raped Giuffre on three separate occasions when she was 17. Neither side can discuss the case or settlement in public.
However, it is understood that Giuffre and her charity will receive a figure in excess of £12 million, according to the newspaper.
Queen Elizabeth II, who has already privately funded the Duke’s legal fight, has agreed to partly fund the settlement in an effort to draw a line under the allegations which have caused untold damage to the Prince’s reputation, The Telegraph reported.
The monarch’s contribution will reportedly come from her private Duchy of Lancaster estate. Income from the estate increased to more than £23 million ($31.2 million) in 2020, accounts show.
Prince Andrew’s personal wealth has long been the subject of much speculation; he currently receives a modest navy pension and an annual £250,000 ($338,775) stipend from the Queen.
The Prince is in the process of selling his only known asset, the Verbier ski chalet he bought with his ex-wife in 2014. The chalet is worth some £17 million ($23 million).
The Duke of York was stripped of all military titles and patronages by the Queen in January and no longer uses the HRH title. In effect, he is not a working member of the royal family.
He had intended to fight the legal battle in the US over his alleged sexual relationship with Giuffre when she was just 17, and his connection to deceased financier and sex trafficker Jeffrey Epstein.
Prince Andrew has always denied the allegations and insists he had no recollection of meeting Giuffre.
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