Prince Harry and Meghan Markle, the Duke and Duchess of Sussex, are currently facing a challenging situation with the Internal Revenue Service (IRS) as the agency delves into their questionable financial dealings.
The couple’s involvement with 11 newly established companies and a perplexing 13 bank accounts in Delaware has raised eyebrows and drawn the attention of the IRS.
This development is particularly distressing for the pair, given the financial struggles their charity, Archiewell Foundation, is currently experiencing.
The Archiewell Foundation, named after their son Archie, has seen a significant decline in donations, plummeting by a staggering 9 million pounds compared to the previous year.
In 2022, the foundation managed to gather a meager 1.6 million pounds in donations, a dramatic decrease from the previous year’s 10.4 million pounds.
This drastic drop in funding raises concerns and prompts questions about the couple’s financial management.
What adds further suspicion to the situation is the fact that despite the sharp decline in donations, Harry and Meghan’s expenses have only slightly increased.
However, their salaries have skyrocketed, leading to speculation about whether the couple is utilizing their charity as a personal piggy bank rather than fulfilling its intended purpose.
The IRS investigation is now focusing on the intricate network of 11 companies established by Meghan and Harry, all registered in the tax haven state of Delaware.
These companies, formed since April 2020, are part of the couple’s ambitious plan to expand their already extensive business interests in the United States.
Delaware’s reputation for lenient business laws and minimal personal income tax rates, coupled with its privacy provisions, make it an attractive destination for those seeking to exploit financial regulations.
A closer look at the names chosen for these companies reveals a certain level of self-indulgence on the part of the Sussexes.
For instance, Cloverdale, Inc. shares its name with the street where Meghan once resided with her mother, Doria.
Another company, Oranoo Publishing, LLC, may be a sentimental nod to Princess Diana, while Pekka Publishing, LLC, previously held the rights to Meghan’s children’s book, The Bench.
The list continues with Hampshire, LLC, Babb Holdings, LLC, and others, all seemingly connected to personal milestones in the couple’s lives.
These companies are managed by Meghan’s long-time attorney, Richard Jenneau, and business manager Andrew Meyer, providing insight into the Sussexes’ post-royal ambitions.
However, their approach to blending business with charity raises serious concerns.
There is a growing perception that they are exploiting Delaware’s legal loopholes to evade taxes, potentially diverting a significant portion of their charity donations to cover their extravagant expenses.
While this may be within the bounds of legality in Delaware, it appears to be a blatant display of tax evasion disguised as charitable activities.
As the IRS investigation intensifies, the financial empire of Harry and Meghan is under close scrutiny.
The world watches eagerly to see if this high-profile couple will be held accountable for their actions or if they will manage to escape yet another predicament unscathed.