EXCLUSIVE INVESTIGATION: RADAR's Prince Andrew Files — We Reveal How Scandal-Hit Duke Made Son of a Scrap Metal Merchant his 'Route to Riches'... As He Bleeds Cash Amid Royal Exile

Dodgy royal Prince Andrew’s route to ready cash was made easier by a multi-millionaire financier dubbed Spotty.

Moneybags David Rowland, given the cruel name because of his acne, is the son of a London scrap metal dealer who rose to be worth $800m due to his audacious takeovers of firms and eventually ended up taking tea with the Queen, RadarOnline.com can reveal.

In another of our deep dives into the sidelined prince’s business dealings, we look into Andrew and his ex-wife Sarah Ferguson's relationship with property developer and financier Rowland, 79.

We can reveal author Andrew Lownie states in his book The Controversial Lives of the Duke and Duchess of York how Andrew met Rowland after the royal was appointed a government business special representative on leaving the Royal Navy in 2001.

Lownie said: "Shortly after his appointment, the duke met David Rowland, who was developing his Luxembourg-based private bank, Banque Havilland, aimed at rich clients who might not easily find banking facilities, and a business partnership was forged.

"Rowland is the son of a scrap metal merchant who left his comprehensive school in south London without sitting a single exam. After a series of audacious takeovers of rival firms, he had made his first millions by the age of 23."

Rowland was once described as a "shady financier" on the floor of the UK Parliament in 2010, his attempt to become Conservative Party treasurer foundered after press revelations about his business dealings.

The Rowlands and Andrew, 65, regularly attended each other’s parties and were guests at each other’s houses. David Rowland stayed at Balmoral and had tea with Queen Elizabeth and Prince Charles in the summer of 2010.

Four months later, he paid off half of the $100,000 Sarah owed her PR spokeswoman Kate Waddington. In 2018, he was a front-row guest at their daughter Eugenie’s wedding.

Andrew has had a private bank account at Banque Havilland since 2015 and in the months after opening that account he borrowed $161,000 on average each month, a loan that was extended ten times before he requested a further $322,000 for "general working capital and living expenses" in November 2017.

That year, Banque Havilland made an unsecured loan of $2million to the duke at 8 per cent interest, which, according to documents disclosed to Bloomberg News, was "not in line with the bank’s risk appetite" but was approved because it could lead to “further business potential with the royal family”.

In March 2018, it was repaid early using transferred to Andrew from a Guernsey-registered company, Albany Reserves Ltd. The company is controlled by the Rowland family.

Though ostensibly promoting British trade and investment during his time as special representative, the duke often simultaneously conducted his own business activities on these official trips, which often involved taking commission for acting as a middleman and making introductions for deals.

On occasion Andrew would bring David Rowland and his son Jonathan along on these trips, as well as pedo pal Jeffrey Epstein.

Until March 2019, Andrew, one of whose courtesy titles is Earl of Inverness, had a 40 per cent stake in a firm based in the British Virgin Islands called Inverness Asset Management, which was ultimately owned by Rowland’s Blackfish Capital Management. His name on the relevant documentation is Andrew Inverness.

Andrew has long operated through such names, offshore and nominee accounts (a financial arrangement where a third party holds assets on behalf of the actual owner) and a succession of companies not required to provide full accounts, making it difficult to examine his business activities.

Lownie added: "The public narrative about Andrew is that the former Falklands hero now spends a lonely life trapped in Royal Lodge, going for horse rides in Windsor Great Park and playing video games and golf. But the reality is rather different. According to one source, he has continued his business activities with recent trips to the Middle East and Switzerland.

"The King can only hope there are no further scandals to emerge and the press and public soon lose interest in his brother. On present evidence, that is very unlikely."