King Charles Accused of Using Millions Meant For Charity to Fund Real Estate Empire: Report
King Charles allegedly stole more than $75 million intended for charity to upgrade his personal real estate empire.
Nov. 27 2023, Published 4:30 p.m. ET
King Charles allegedly used millions intended for charity to fund and upgrade his personal real estate empire, RadarOnline.com has learned.
In a shocking development to come nearly seven months after the new king’s coronation in May, a bombshell report found that the 75-year-old monarch allegedly used medieval feudal laws to repossess tens of millions of dollars left behind by dead British citizens.
The new monarch allegedly used medieval feudal laws to repossess tens of millions of dollars left behind by dead British citizens.
According to the report published by the Guardian this week, King Charles obtained more than $75 million through a practice called "bona vacantia.”
Bona vacantia, or “unowned property,” reportedly refers to the property and assets left behind by British citizens who died without a will or known next of kin.
The Guardian found that the money – currently believed to exceed $75 million and allegedly amassed over the past ten years – is secretly being used to renovate commercial properties owned by the king's extensive land and property estate, the Duchy of Lancaster.
The Duchy of Lancaster, which was inherited by Charles from the late Queen Elizabeth, controls vast amounts of real estate, including farmland, hotels, castles, offices, and some of London's elite properties.
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Despite generating over $1.6 billion in revenue over the past sixty years, neither the Duchy nor its sister estate – the Duchy of Cornwall – pays corporation tax or capital gains tax.
While the funds acquired through bona vacantia are intended for charities, only 15% of the money collected by the monarch has been directed towards them in the past decade, the Guardian found.
Even more shocking was the outlet’s discovery that a new policy introduced in May 2020 increased the permissible use of bona vacantia funds to include repairs and protection of properties deemed a "heritage asset" or of "local historical importance.
Among the properties benefitting from these funds are townhomes, holiday rentals, country cottages, and barns used for recreational purposes, according to the Guardian.
Among the properties benefitting from these funds are townhomes, holiday rentals, country cottages, and barns used for recreational purposes.
The outlet also found that the duchy is allowed to use its bona vacantia earnings for various repairs – including walls, foundations, electrical systems, and insulation work.
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A spokesperson for King Charles has since denied the allegations that the monarch used millions meant for charity for his own personal real estate empire.
The king’s spokesperson also insisted that the tens of millions of dollars were being used to “support local communities” and “preserve properties” located on the Duchy of Lancaster land.
A spokesperson for King Charles has since denied the allegations.
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“The king reaffirmed that money from bona vacantia should not benefit the privy purse, but should be used primarily to support local communities, protect the sustainability and biodiversity of the land, and preserve public and historic properties across the Duchy of Lancaster estates,” the spokesperson said.
“This includes the restoration and repair of qualifying buildings in order to protect and preserve them for future generations,” the spokesperson added.
British citizens have slammed King Charles over the bona vacantia allegations.
One Brit called the new monarch’s alleged actions “disgusting” while another said that their late friend would “turn in his grave if he knew” what King Charles was allegedly doing.
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