Prince Harry is fighting back against claims that he inappropriately used funds from one of his charities after a probe was recently launched into the matter.
According to Newsweek, the brouhaha started after an anti-monarchy group called Republic demanded an investigation into the Sussexes. Republic noted that after Harry and his brother, Prince William, had a “divorce” in their original joint venture The Royal Foundation, half of the funds were transferred to Sussex Royal.
After Harry and his former Suits actress wife, Meghan Markle, later closed down their namesake organization when they were denied the right to use the word “royal” by the queen, the money was then moved to Harry’s eco-friendly travel organization Travalyst.
However, Travalyst is legally classified as a limited liability company. Though it is listed as a nonprofit, many have wondered why the duke and his team did not register it as a charitable venture, especially as he owns 75 percent of the shares in the company.
Nonprofit organizations are not held to the same standard as charities in the United States, as they have more leeway to spend on things such as overhead and salaries. In addition, their operative mission can range from social welfare to recreation or even pleasure as long as they do not make any profits.
Graham Smith, chief executive of Republic, summarized his concerns about the murky finances.
“Maybe I’m missing something here, but I find it difficult to believe that a charity making an independent and impartial decision would decide to make these payments,” he said.
“The… Foundation has lost almost £300,000 to Prince Harry’s pet projects. Harry’s own charity is now closing and he appears to be taking the charity’s money with him. I can’t see how that isn’t a breach of charity law. Whatever the legal position this looks unethical and underhand,” Smith continued.
“People donate money to a charity expecting it to be used to fund the charity’s objectives, not to be given away to support a patron’s other projects.”
However, Harry has fought back against the claims, calling them “deeply offensive,” per the Daily Mail.
Harry also released a statement via a spokesperson which emphasized that all actions were done in full accordance with the law.
The timing of the reports comes as rumors have continued to swirl about the finances of the pair. As previously reported by The Inquisitr, Prince Charles is reportedly suffering from a reduced income due to the novel coronavirus and is worried about covering expenses for the couple as they start their new life in Los Angeles.