Princess Beatrice's ex-boyfriend Paolo Liuzzo borrowed $60,000 from friend's life savings to take new girlfriend on a luxury cruise months before he died, pal reveals

The playboy ex of Britain's Princess Beatrice heartlessly conned a best friend out of his life savings just months before his shocking drug overdose death, DailyMail.com can exclusively reveal.

Paolo Liuzzo begged close pal Arshad Sadikeen to lend him nearly $60,000 so he could take his latest conquest on a luxury Caribbean cruise.

When he failed to pay him back Arshad launched a lawsuit to claw back the cash – but Liuzzo's sudden death at age 41 means the money is gone for good.

Cops found the socialite's body at a downtown Miami hotel on February 7 after he fought a years-long addiction with drugs said to include cocaine, ketamine, and Oxycontin.

The New York native was best known for dating Queen Elizabeth II's granddaughter Beatrice between 2005 and 2006. She was 17 at the time and he was 24.

Three years prior to their relationship he was charged with the 2002 manslaughter of Jonathan R. Duchatellier, a fellow student at the College of the Holy Cross.

Arshad Sadikeen (left) sued friend Paolo Liuzzo last year after he failed to pay him back $60,000 he had borrowed, DailyMail.com can reveal 

Liuzzo, 41, who was found dead in a Miami hotel in February, had begged his close pal to lend him his life savings so he could take his latest conquest on a luxury Caribbean cruise last year (pictured) and pay off a string of debts, according to the friend 

Liuzzo, a New York native, was best known for dating Queen Elizabeth II's granddaughter Beatrice between 2005 and 2006. She was 17 at the time and he was 24

It was alleged that he beat the 19-year-old to death with his fists but the charges were downgraded to assault and battery and Liuzzo served a mere 100 hours of community service.

In 2009 he faced further charges in Australia for crashing a $90,000 Audi into traffic lights, possessing cocaine and failing to pay for food and lodging at a casino.

In recent years Liuzzo had been presenting himself as an 'art consultant' and living in a $3,700 per month condo in downtown Miami, where Arshad was living one floor above, DailyMail.com can reveal.

Arshad, 30, was impressed by his new neighbor's designer clothes, flash lifestyle, and elite social circle that included wealthy art dealers and a Michelin star chef.

Liuzzo would treat his younger pal to swish dinners at Design District eatery COTE and all-night parties at Miami superclubs Space and E11even - but Arshad soon noticed his extravagance had a darker side.

'He went to the casino a lot. I could tell from his behavior that he was on drugs, which is not something I've ever been into,' Arshad told DailyMail.com.

'But we had a great time, we were close friends. I genuinely believed he had these connections to the Royal family and that he came from a lot of money.'

When Liuzzo came to him in April last year asking for an emergency loan, Arshad was happy to help. 

He wanted the money to take a new girlfriend on a cruise and pay off a string of debts.

Video obtained by DailyMail.com shows Liuzzo on the Caribbean cruise for which he paid using his friend's money 

Arshad (above) told DailyMail.com he was happy to help his friend when he came to him asking for an emergency loan to take a new girlfriend on a cruise and pay off a string of debts last April, but revealed things soured when it came time to pay it back 

According to legal filings obtained by DailyMail.com, Liuzzo was due to repay the loan on June 15,2023 with interest 

'The story that Paolo told me was that he had just sold $970,000 worth of Apple stock so he was good for the money. He promised to pay me back within a week with an additional 20 percent on top,' said Arshad, an ICU nurse.

'As soon as he got back he more or less vanished. I confronted him in the hallway one time and he tried to goad me into punching him, which I think was so that he could call the cops on me.

'A few months later I heard that he had just bought a new Tesla which he crashed almost immediately. 

'The last time we spoke he said he had been in rehab - but he sounded to me like he was still on drugs.'

Arshad's only hope of seeing his money came in the form of a promissory note that he had Liuzzo sign to confirm the loan of $59,420.

He hired an attorney, filed a lawsuit last August and on March 2 a Miami judge issued a default judgment in his favor – unaware that the defendant had been dead for more than three weeks.

'I'm now in limbo. My lawyer says that if Paolo doesn't have any money left there's no chance of getting anything from his family,' said Arshad, now living in Chicago.

'Losing that sort of money ruins you. It was my life savings. It was meant for my family and my future. It's made me very depressed. I fell for it. I got conned. I've just got to accept it.'

Arshad's only hope of seeing his money came in the form of a promissory note that he had Liuzzo sign to confirm the loan of $59,420

Liuzzo, from Woodbury, New York, was considered a dashing young socialite at the time of his romance with Beatrice.

They kept the relationship secret for almost a year but split in May 2006 when reports of the manslaughter charge surfaced, causing a sensation.

Her parents Prince Andrew and Sarah Ferguson, the Duchess of York, didn't oppose the pairing, however, the latter saying: 'We all have our own journeys and have to learn our way but Beatrice is a sensible girl, soon to be 18, with many friends including Paolo.'

It turned out that Liuzzo had flouted the conditions of his probation to vacation with the family in the exclusive Swiss ski resort of Verbier in 2006.

His three-year probation was extended by the US courts as punishment, forcing Beatrice to end the fledgling romance.

A year later he embarrassed the Royal Family by claiming marijuana was smoked in the presence of Beatrice, her sister Eugenie, and their mother, while they were all on vacation together in Jamaica in 2005.

The self-described playboy also confessed to cheating on Beatrice during their relationship - and said she had wanted to introduce him to the Queen.

Liuzzo (pictured in court right) had reportedly struggled with drugs and was previously arrested in Australia over a string of offenses including possessing cocaine

Miami police said Luizzo was found dead at citizenM Miami Worldcenter hotel in February. His death is being investigated as a suspected overdose

Beatrice (pictured here with her parents Prince Andrew and Sarah Ferguson) was reportedly heartbroken when their romance ended and she returned to Goldsmiths, which is part of the University of London

'I'm not a bad person. But it's like putting heroin in front of Pete Doherty. Women are my weakness,' he boasted, likening himself to the hellraising Libertines musician.

Liuzzo's death certificate revealed that he had been working as a consultant in the art industry and had never married, according to The Sun.

An official cause of death is yet to be released. His body was transported to Long Island and a funeral was held on February 16.

Summing up his sad demise, a former acquaintance told DailyMail.com: 'Paolo really pushed the image that he was half mobster, half playboy and somehow 100 percent of both.

'He was high energy and high volume. Larger than life and quite charming but quick to turn and with a nasty temper.

'He was quick to pick a fight, quick to make a scene and then back to his 'charming' self as if nothing had happened. It was always about the show with him.

'He'd go through bottles of Patron tequila and bumps of cocaine for days. The bigger and louder the better but there was always something kind of desperate about it, that's the truth.'