In a startling revelation, King Charles has been accused of exploiting an ancient law to misappropriate funds from unclaimed estates, sparking outrage and demands for accountability. The report, which has sent shockwaves through the United Kingdom, exposes how the monarch allegedly diverted millions intended for charitable purposes to enhance his personal real estate holdings.
An anonymous government official condemned Charles's actions as akin to "grave robbing," accusing him of being a "vampire out for blood money." The controversy centers on the Duchy of Lancaster, an estate valued at around $820 million, which King Charles inherited from his mother, Queen Elizabeth. Documents from the Duchy, now made public, indicate that in the last decade, King Charles has collected an estimated $75 million from deceased citizens without wills or known relatives, utilizing these funds for property renovations instead of directing them to charity.
Under the doctrine of "bona vacantia," or "vacant goods," which dates back over 600 years, the Duchy inherits assets from residents within its jurisdiction who die intestate. This principle also applies to the Duchy of Cornwall, now overseen by Prince William, which operates under a similar system.
The Duchies, running as real estate empires, have reportedly generated over $1.5 billion in profits in the last 60 years and are exempt from corporation or capital gains taxes. A policy, codenamed "SA9," reportedly authorized officials in 2020 to channel these funds into the Duchies' profit-generating portfolio. This move has been met with severe criticism, as only about 15% of the revenues have been directed towards charitable causes.
A Duchy spokesman defended the use of funds for restoring and repairing buildings, ostensibly to preserve them for future generations. However, critics argue that these funds should instead be utilized for social welfare, like providing housing for the homeless, rather than upgrading luxury properties and holiday rentals.
The revelation comes at a tumultuous time for the monarchy, already grappling with the fallout from the explosive book 'The End Game' by Omid Scobie. The book has stirred further controversy by accusing Prince William of backing "dirty tricks" against his brother Harry and alleging that King Charles referred to Harry as "that fool."
The scandal has raised questions about the ethical use of funds by the monarchy and has led to growing calls for reform. The public outcry over the revelation indicates a deepening rift between the monarchy and public opinion, challenging the traditional practices and financial operations of the royal estates.
This unfolding saga not only tarnishes the reputation of the royal family but also ignites a broader debate on the monarchy's role in modern British society. As the controversy unfolds, it remains to be seen how King Charles and the royal family will navigate these accusations and the increasing demands for transparency and change.
The Globe magazine spoke to the source.