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Brunei Prince Now Forced to Scour For Manhattan Hotel Deals

March 3, 2008 at 9:15 AM | by | ()

No longer will His Royal Highness Prince Jefri Bolkiah of Brunei be enjoying a complimentary stay at the New York Palace Hotel, formerly the Helmsley Hotel and Prince Jefri's last remaining valuable asset.

Following a royal 10-year battle between HRH Prince Jefri and his older brother His Royal Majesty Haji Hassanal Bolkiah, Sultan of Brunei, a recent New York court ruling has awarded control of the iconic Manhattan hotel to the Brunei Government.

Seems the Sultan and his small oil-rich nation have accused the royal younger sibling of misappropriating $14 billion from its Treasury. And while Jefri already claims to have returned billions of dollars in property to Brunei, including ownership of the Plaza Athenee in Paris, to the Sultan go the hotel spoils. Of note, Forbes magazine ranks the Sultan of Brunei as the world's wealthiest ruler, with an estimated fortune of $22 billion.

Poor Jefri. It appears the Prince-turned-pauper will have to raise some cold hard cash for a Big Apple guest room whenever his travels bring him back to New York. You know, just like us common folk.

[Photo: N*A*7*6*]

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