King Charles‘ friend and former trustee to his primary charity, Valery Belokon is making news over a money laundering case. A bank owned by Latvian businessman is closed down and raided by police task force on Friday.

The breaking news of Belokon being driven into new scandals, comes as a humiliating development for King Charles. The accused businessman has been a trustee at the King’s primary charity for over three years now. The two have also worked on joint ventures in the past. Interestingly, a few of their companies began after Belokon was being prosecuted for the given criminal charges.

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Who is Valery Belokon?

Valery Belokon is a Latvian Businessman is a former co-owner of Blackpool FC. His company VB Football Assets was a minor shareholder at Blackpool; it came in the headlines in 2017 when Belokon filed a suit against majority shareholder at Blackpool. Belokon later won the suit and played a major role in changing the Blackpool regime.

Belekon also owns the Baltic International Bank which was raided in Riga, Latvia earlier today. In 2010, Belekon and King Charles started a joint venture under the name PF Urban Ltd. that provided services in urban planning using sustainable development. PF Urban Ltd. undertook most of the projects run by the Prince Foundation for Built Environment.

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Valery also held important rank in the board of the Prince’s Foundation for Building Community between January 2010 and June 2013.

Belokon is accused of a multi-million money laundering scheme being run under his bank’s name. This led to the takeover of his bank, Baltic International, by the Asian republic of Kyrgyzstan. He has refused all charges.