Parliament would grant the king no supplies, and he could find the means of fitting out a fleet only by defrauding his creditors.
Conventional asset protection is not hiding assets, defrauding creditors or evading income taxes.
The chief execs of five UK companies were hoicked out of bed at dawn and arrested for allegedly defrauding the NHS.
If the AP is understating their income they are probably also defrauding the government.
The student who secures his coveted leisure and retirement by systematically shirking any labor necessary to man obtains but an ignoble and unprofitable leisure, defrauding himself of the experience which alone can make leisure fruitful.