Prince William’s estate was wrongly given $50,000 that belonged to a local business owner who fought for months to get the money back.

William is bankrolled by the , a property portfolio that exists to fund the Prince of Wales while he is direct heir to the throne.

However, the estate is not like other property portfolios owned by private individuals and at times mirrors the role of the state.

For example, funds left in the accounts of companies based in the English county of Cornwall that are closed down get transferred to the Duchy of Cornwall if they are not claimed by the owner.

A business owner from Liskeard, a town in the southeast of the county, wrote in to The Guardian newspaper to complain, adding: “Please help me track down my £37,700 [$49.770].”

The company boss, named only through the initials CW, said ill health forced them to wind up their company in November 2023 and become a “sole trader.”

However, their accounts with Lloyds Bank were later closed. The owner wrote: “I was informed that the funds had been sent to the Treasury as my company was deemed to have been dissolved, and that it was up to me to recover them.

“My company is registered in Cornwall, however, and the Treasury told me the funds would therefore have gone to the Duchy of Cornwall.

“The Duchy confirmed it had the funds, but said I would have to reinstate the company with Companies House and pay a £234 fee to the duchy’s solicitors to claim them.

“I explained that Lloyds had sent the money in error. I was then told that if the bank confirmed this, the money could be returned. That was in April. Since then I have called or emailed Lloyds once a week and have still not been refunded.

“I’m struggling to pay business bills and therefore, five months after my account was closed, I asked Lloyds for an interest-free loan to tide me over until the funds arrive. It refused.”

The saga highlights the ill-defined role that the Duchy plays in British society, in which it is viewed publicly as belonging to William but also at times acts as though it is the equivalent of the state.

Graham Smith, chief executive of campaign group Republic, wrote on X, formerly Twitter: “Yep. If your company is dissolved in Cornwall William might take your money. Absolute disgrace.”

The business owner’s request got an answer from from the newspaper’s money expert, Anna Tims, who wrote: “Limited companies wanting to change to sole trader status must first be dissolved and the funds transferred to a new account within 60 days.

“Any money remaining in the original account after 60 days enriches the Treasury, or in the case of Cornish companies, the Duchy of Cornwall, a private estate which funds the Prince of Wales and Duke of Cornwall. That, of course, is a story in itself.”

However, she did manage to get the business owner their money back: “Disgracefully, [the bank] managed to speed the funds to your account four days after I demanded answers and nearly two months after it last assured you they were on their way.

“The bank had stumped up from its own coffers, having belatedly decided it was unreasonable to keep you waiting while it applied to the duchy. It blamed the delays on an ‘administrative error’ and congratulated itself on sending you £350 in compensation last April.

“The mindblowing aspect of this is that not once did any sentient agent stop to consider the impact this would be having on you, and ensure the errors were rectified.

“It has paid you a further £150 in compensation and £899.14 to reflect the interest lost. It says: ‘We have apologized for the mistakes and are sorry for the time taken to resolve them; on this occasion, our service levels have not met the high standards we expect to give our customers.'”

Williams Brown is chief royal correspondent for Regalrumination.com, based in London. You can find him on X, formerly , at and read his stories on Regalrumination.com‘s

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