The 'family investment' set to help Prince Andrew repay the Queen for Virginia Giuffre settlement

Prince Andrew reportedly paid the settlement in his sexual assault case with family money

Prince Andrew repay the Queen
(Image credit: Getty)

Prince Andrew has paid his settlement to Virginia Giuffre, according to court documents. 

The Duke of York has paid a settlement to Virginia Giuffre with loaned money, leaving him now in the process of paying back his debts. 

Prince Andrew's civil sexual assault case was dismissed on Tuesday, after the disgraced royal paid a reported £13 to £15 million in damages to his accuser. 

Giuffre sued the 62-year-old last year, alleging that he committed 'sexual assault and battery' against her when she was 17. She also claimed that Jeffrey Epstein, the late convicted sex offender, forced her to have sexual intercourse with Prince Andrew at Ghislaine Maxwell's home in New York. 

The Duke has vehemently denied Giuffre's allegations, insisting he had no recollection of ever meeting her. 

A statement released by his lawyer after the settlement was confirmed, however, saw the second youngest of the Queen's children acknowledge his accuser's turmoil. 

“Prince Andrew has never intended to malign Ms Giuffre’s character, and he accepts that she has suffered both as an established victim of abuse and as a result of unfair public attacks," the Duke's legal representatives said. 

Virginia Giuffre, an alleged victim of Jeffrey Epstein, center, exits from federal court in New York, U.S., on Tuesday, Aug. 27, 2019. Epstein, a convicted pedophile, killed himself in prison earlier this month while awaiting trial on charges of conspiracy and trafficking minors for sex. Photographer: Jeenah Moon/Bloomberg via Getty Images

Virginia Giuffre 

(Image credit: Jeenah Moon/Bloomberg via Getty Images)

How will Prince Andrew pay back the Queen and Prince Charles? 

It's understood that Prince Andrew is now in the final stages of selling his Verbier ski chalet—his only known means of repaying the Queen and his older brother. 

The Duke and Duchess of York purchased the Swiss Alps retreat in 2014 as a 'family investment', with a mortgage and financial contributions from Her Majesty. In the 17 years prior, the ex-couple had rented the residence for an eye-watering £22,000 a week.

Prince Andrew

(Image credit: Getty)

The ski chalet boasts seven bedrooms, an indoor swimming pool, a sauna, a sun terrace, and even a bar. 

Prince Andrew is now in the last stages of selling the property—a process that could reportedly take several months.

Emma Dooney
Lifestyle News Writer

Hailing from the lovely city of Dublin, Emma mainly covers the Royal Family and the entertainment world, as well as the occasional health and wellness feature. Always up for a good conversation, she has a passion for interviewing everyone from A-list celebrities to the local GP - or just about anyone who will chat to her, really.

Emma holds an MA in International Journalism from City, University of London, and a BA in English Literature from Trinity College Dublin.