A lifestyle application endorsed by Sarah Ferguson reportedly received over £1 million in taxpayer funds before collapsing without a product launch, according to filed documents.
vVoosh, founded by Manuel Fernandez, a known associate of Ms. Ferguson, who previously identified as an “ambassador” and investor in the company.
The app purported to empower users to “Find, Plan, Share, Live, and Remember all the things you love to do – and those you’re yet to try.”
Neither Ms. Ferguson nor Mr. Fernandez have responded to requests for comment on the matter.
vVoosh entered administration last month, and its failure has instigated further inquiries regarding the former duchess’s judgment and associated business ventures.
The company amassed approximately £9 million over the years, including over £1 million from the UK government via research and development tax credits, according to administrator documents.
Teams in the UK and India were contracted to develop the application; however, a launch never occurred, leaving the company without revenue for continued development.
Progress on the app ceased when the Indian contractor threatened legal action.
The administrator’s report cites a “breakdown in communication between the current directors/major creditors and the founder [Mr. Fernandez], who ceased communication following [his] resignation as a director earlier in the year.”
The report indicates a former director owes the company £324,609. This is understood to be Mr. Fernandez, the only director to have departed since 2019.
Reports indicate he sold his North London residence for £1.3 million last summer, based on Land Registry documents, and is believed to have left the UK.
vVoosh owes £50,000 to La Luna Investments, one of Ms. Ferguson’s companies, which also held slightly under 1% of the company’s shares.
Records show the firm had over 60 smaller shareholders, predominately from Essex and London, with a few US addresses also appearing.
Administrators have expressed “significant uncertainty” regarding the potential returns for the company’s creditors upon its liquidation.
American investor Mark Guzy has invested over £400,000 to maintain essential services and safeguard the value of the software platform, the company’s primary remaining asset.
vVoosh originally aimed to donate 10% of its profits to a charitable foundation.
The BBC understands that the Charity Commission has commenced removing the vVoosh Charitable Foundation from its registry due to inactivity.
The foundation is over four-and-a-half years late in submitting its reporting.
HMRC has declined to address inquiries regarding tax credits. Mr. Guzy and the other directors of vVoosh have also declined to comment.
Earlier this month, Mr. Fernandez denied misappropriating funds from the firm, according to The Times.
He told the newspaper that the allegation would be “disproven in the course of legal proceedings.”
Ms. Ferguson, 66, lost her duchess title when her former husband, Andrew Mountbatten-Windsor, relinquished use of his Duke of York title over his links with Epstein. He has since been stripped of the title of prince as well.
Last month it emerged that a crypto-currency mining firm had agreed to pay her up to £1.4m for acting as a “brand ambassador” – that firm also failed, allegedly costing investors millions. Its co-founder denied misconduct and said he was working to repay backers.
In September, a number of charities dropped her as a patron or ambassador after an email from 2011 revealed that she called sex offender Jeffrey Epstein her “supreme friend” and seemed to apologise for her public criticism of him.
Mr. Fernandez attended Billericay School in Essex and served in the Royal Anglian Regiment, according to his LinkedIn profile.
He then held senior sales positions at various tech companies prior to establishing vVoosh in 2010.
He was frequently photographed with the then-Duchess in 2015 and 2016, accompanying her to Sir Bob Geldof’s wedding; however, she dismissed rumors of a romantic relationship, stating they were merely “good friends.”
Correction 6 December: An earlier version included financial figures for vVoosh charitable foundation, taken from the Charity Commission website, but the charity never traded.
As the UK’s head of state, King Charles has number of parliamentary and constitutional duties.
Dianarama re-examines the 1995 BBC Panorama interview by disgraced reporter Martin Bashir.
There are also no plans to formally remove Andrew from the line of succession, the government says.
The language of Buckingham Palace’s statement is “very brutal”, royal historian Kelly Swaby tells the BBC.
The sprawling Norfolk estate is home to several properties – here is a look at where Andrew might be moving in.