Prince William’s private estate has been accused of keeping £37,700 from a local business owner.
The Duchy of Cornwall is a private estate that funds the Prince of Wales.
The incident, which came to light recently, has raised questions about the estate’s role in society.
The business owner, identified only as CW, was forced to dissolve their company due to ill health in November 2023.
The Duchy of Cornwall is a private estate that funds the Prince of Wales
PA
However, when their Lloyds Bank accounts were later closed, the funds were mistakenly transferred to the Duchy of Cornwall instead of being returned to the owner.
For months, CW struggled to reclaim the money, facing hurdles and delays.
The situation highlights the complex nature of the Duchy, which at times mirrors that of a state entity despite being a private estate.
The Duchy of Cornwall is a unique property portfolio that exists to fund the Prince of Wales, currently Prince William, while he is the direct heir to the throne.
Prince William is the current Duke of Cornwall
PA
Unlike typical private property holdings, the Duchy sometimes functions in a quasi-governmental capacity.
One such role involves receiving funds from closed companies in Cornwall that remain unclaimed.
This unusual arrangement led to the current controversy.
Graham Smith, chief executive of the campaign group Republic, criticised the practice on social media, stating: “Yep. If your company is dissolved in Cornwall William might take your money. Absolute disgrace.”
Prince William is heir to the throne
PA
The incident has sparked debate about the Duchy’s ill-defined role in British society, where it is publicly viewed as William’s property but occasionally acts with state-like authority.
CW detailed their ordeal in a letter to The Guardian, explaining the complex process they faced.
The Duchy confirmed it held the funds but initially required CW to reinstate the company and pay a £234 fee to claim them.
After months of weekly calls and emails to Lloyds Bank, CW was still without their money.
Lloyds Bank eventually transferred the funds to CW’s account, citing an “administrative error” for the delay.
The bank also paid £350 in compensation in April, followed by an additional £150 and £899.14 in lost interest after the newspaper’s involvement.
The incident raised questions about the Duchy of Cornwall’s role and responsibilities in handling unclaimed funds.
Lloyds Bank’s statement acknowledged their shortcomings: “We have apologised for the mistakes and are sorry for the time taken to resolve them; on this occasion, our service levels have not met the high standards we expect to give our customers.”
GB News has contacted the Duchy of Cornwall’s press office and Kensington Palace for comment.
