Prince Harry and Meghan Markle have been hit with a significant setback as it has come to light that donations to their charitable foundation have plummeted by £9 million compared to the previous year.

The couple’s foundation, named after their son Prince Archie, recently released its accounts for 2022, revealing that it received only two donations totaling £1.6 million.

This is a stark contrast to the previous year when over £10.4 million in donations were received, resulting in a staggering drop of £8.7 million.

After taking into account salaries, expenses, and grants, the foundation ended up with a revenue loss of approximately £536,000.

However, it still holds funds amounting to more than £6.8 million.

In 2021, the foundation distributed over £2.4 million in grants, but this number decreased to just over a million in 2022.

While expenses saw a slight increase from £578,000 to £624,000, the most significant rise was observed in salaries, with £508,881 paid out compared to £129,584 the previous year.

Financial experts are now urging the Internal Revenue Services (IRS) to investigate Harry and Meghan, labeling them as fraudsters.

Concerns have been raised about the couple using their foundation and charity as their personal bank account.

The existence of 13 Delaware bank accounts raises questions about where all the money is going.

Reports from a source last year revealed that Meghan and Harry had established a network of 11 companies in Delaware, a tax haven state, as part of their expanding business interests in the United States.

Incorporating a company in Delaware offers various advantages, such as flexible business laws and low personal income tax rates.

With almost 65% of Fortune 500 companies registered there, Delaware is known for hosting more corporations than people.

While a company’s officers and directors must be disclosed, the actual owner is not required to identify themselves.

Furthermore, Delaware does not impose income tax on corporations that are registered in the state but do not conduct business there.

This makes it an attractive destination for those seeking a domestic tax haven.

The Sussexes’ filings provide insights into their lucrative ventures outside the royal family and offer a glimpse into the direction their media empire is likely to take.

More than half of their newly established companies are focused on the entertainment sector, with names that hold personal significance for Harry and Meghan.

For instance, one company, Cloverdale Inc, shares its name with the Los Angeles street where Meghan lived with her mother after her parents’ divorce.

Another company, Orinoco Publishing LLC, may be a tribute to Princess Diana’s favorite song.

Pekka Publishing LLC, founded in 2020, once held the rights to a children’s book titled The Bench.

Speculation suggests that Hampshire LLC was named after the county where Meghan and Harry enjoyed a holiday during her first pregnancy.

Additionally, Baobab Holdings LLC may have drawn inspiration from the tree of the same name, native to Australia and Africa.

Lastly, Nemawashi Holdings LLC, established in September 2020, is described as a holding company, with “Nemawashi” being a Japanese term referring to the informal process of laying the foundation for a project.

The Sussexes’ companies were incorporated by a team led by Meghan’s long-time attorney, Richard Jeno, and her business manager, Andrew Mayer.

Unfortunately, the creation of not-for-profit organizations in Delaware is a common practice among the wealthy elite.

Legally, up to 90% or even 95% of donations can be used to cover expenditures in Delaware, providing a means for the rich to avoid taxes.

Donations flow into their charity, and expenses are paid through it.

The investigation by the IRS into Meghan and Harry’s financial affairs has raised eyebrows and cast a shadow over their charitable foundation.

As the couple’s business interests continue to expand, scrutiny surrounding their financial practices intensifies.

The drop in donations and the establishment of multiple companies in Delaware have fueled suspicions about their financial management.

Only time will tell how this investigation unfolds and what consequences it may have for the Duke and Duchess of Sussex.