Yahoo Finance Prince Michael accused of using royal status to 'sell access' to Vladimir Putin
Prince of Michael of Kent is understood to be “disappointed” with his long term friend the Marquess of Reading after a business meeting attended by the pair saw him accused of using his royal status to sell access to Vladimir Putin's regime.
The Queen's cousin told undercover reporters posing as South Korean gold investors that he could be hired for £10,000 a day to make “confidential” representations to the regime.
He said he would give their fictitious company his royal endorsement in a recorded speech for a $200,000 fee and was happy to use his Kensington Palace home as a backdrop.
Buckingham Palace yesterday sought to distance itself from the furore, insisting that as the Prince was not a working member of the Royal Family, it could not speak on his behalf.
It remained unclear whether the palace will investigate the allegations or whether they will impact on the 100 or so public duties and engagements the Prince conducts annually on behalf of the Queen. Her Majesty is not yet thought to have spoken to her cousin about the revelations, made by Channel 4's Dispatches and The Sunday Times.
During a Zoom call, the 78-year-old Prince told the undercover reporters that his long standing connection to Russia “could bring some benefit” to their company, the House of Haedong, noting that he had been given one of the Kremlin's most prestigious awards.
“I have never had any close connection before with gold and the idea makes me very happy,” he added.
Lord Reading, his friend and business partner of 30 years, claimed the Prince had a de facto role as “Her Majesty's unofficial ambassador to Russia” and was able to meet with Mr Putin.
He warned that the Prince's services were "confidential," adding: "We're talking relatively discreetly here because we wouldn't want the world to know that he is seeing Putin purely for business reasons."
The Marquess suggested this was not the first time Prince Michael had traded on his links to Mr Putin’s regime. Asked if he had done anything similar before, he replied: “Yes, he has been able to do that but he doesn’t broadcast it. Are you with me?”
He also said that Prince Michael’s relationship with Mr Putin had not been altered by the tensions between the UK and Russia.
Simon Astaire, spokesman for Prince Michael, said: “Prince Michael has no special relationship with President Putin. They last met in 2003 and he has had no contact with him or his office since then.
“Lord Reading is a good friend, who made suggestions which Prince Michael would not have wanted, or been able, to fulfil. Prince Michael has never represented Buckingham Palace, in Russia or elsewhere.”
A source close to the Prince insisted that while the Prince was “disappointed” with his friend, who he considers his gatekeeper, he remained loyal to him and felt he had been set up.
The Marquess said: “I believed the approach from the House of Haedong was genuine and I was trying to facilitate an introduction to my friend Prince Michael.
“I made a mistake and over-promised and for that, I am truly regretful. I wasn’t at my peak as I was recovering from a kidney transplant.”
Dispatches: Royals for Hire, will broadcast at 7.30pm on Monday on Channel 4.
