Prince Andrew to pay Virginia Giuffre more than £12m using money from the Queen

It was announced yesterday that Andrew (61) had reached an out-of-court settlement with Virginia Roberts Giuffre, which means he will no longer face a jury trial on claims that he sexually abused and raped her on three separate occasions when she was 17.

The terms of the deal prevent either side from discussing the case or the settlement itself in public.

However, it is understood the total amount that will go to Ms Giuffre, who was trafficked by the paedophile financier Jeffrey Epstein, and her charity exceeds €14.3m.

The queen has privately funded the prince’s legal fight to the tune of millions of pounds and will now partly pay for the settlement in order to allow her son – and the entire royal family – to draw a line under the case that had threatened to overshadow her ­Platinum Jubilee.

Negotiations over the settlement are understood to have lasted for at least 10 days, with the prince’s team changing tack when the date for his deposition, when he would have been questioned under oath by Ms Giuffre’s legal team, was set for March 10.

The deal was agreed at the weekend, according to The Daily Telegraph . A source close to the talks said: “Walls were closing in fast. After his deposition, he would likely have been so damaged, no one could save him or agree to fund his settlement.”

A statement filed with the New York court yesterday said: “Virginia Giuffre and Prince Andrew have reached an out-of-court settlement.”

It said both parties anticipated filing a “stipulated dismissal” of the case within 30 days, when Ms Giuffre was in receipt of the money.

Judge Lewis Kaplan issued an order suspending the legal action until March 17 . He said: “In the event the stipulation of dismissal is not filed by then, it remains entirely possible that this action will be set for trial when previously indicated.”

The joint statement said that the prince would also make a “substantial” donation to Ms Giuffre’s charity in support of victims’ rights.

It contained no admission of liability and no apology.

Andrew has always vehemently denied the allegations, insisting he has “no recollection” of meeting Ms Giuffre.

Instead, he pledged to “demonstrate his regret” for his association with Epstein by supporting the “fight against the evils of sex trafficking, and by supporting its victims” .

The statement added: “Prince Andrew has never intended to malign Ms Giuffre’s character, and he accepts that she has suffered both as an established victim of abuse and as a result of unfair public attacks.

“It is known that Jeffrey Epstein trafficked countless young girls over many years. Prince Andrew regrets his association with Epstein, and commends the bravery of Ms Giuffre and other survivors in standing up for themselves and others.”

Last month, the prince was stripped of all military titles and patronages by the queen and agreed to no longer use his HRH title. Although a line has now been drawn under the legal process, he is not expected to regain any of his royal privileges or titles. He will keep his dukedom and his Windsor home, Royal Lodge .

On March 29, he will appear alongside the rest of the royal family for a service of thanksgiving for his father Prince Philip . However, he is not expected to take part in public events linked to the jubilee for the rest of the year, after being advised to keep his head down.

A source close to his team said: “It has been made clear that the public have heard enough about him and enough from him. They need to hear no more.”

The queen’s contribution to the settlement will come out of the income from her private Duchy of Lancaster estate .

The source of Andrew’s personal wealth has long remained a mystery: he has a modest navy pension and receives an annual £250,000 (€300,000) stipend from the queen.

He is selling his only known asset, a mortgaged ski chalet he bought with his ex-wife in 2014 .