Nigel Farage’s £5m gift from crypto billionaire reported to National Crime Agency
According to reports, the £5 million gift Nigel Farage received from a Thailand-based cryptocurrency billionaire has been reported to the UK’s National Crime Agency over concerns it could be money laundering.
The Reform UK leader received the sum from Christopher Harborne before announcing his decision to stand in the 2024 general election and is now being investigated by the Commons standards watchdog.
Mr Farage, who has faced increasing public scrutiny over his financial dealings, insisted the money was an “unconditional gift” and that he did not need to declare it to parliamentary officials.
Although he initially said the money was given for his security, he later described it as a reward for his Brexit campaign and insisted he could spend it on Ferrari cars if he wanted.
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Guard It reported that bankers submitted a suspicious activity report regarding the gift to the NCA in May 2024 as banks paid more attention to transactions involving “politically exposed persons”.
A SAR is not an indication or evidence of wrongdoing, but rather an invitation for the criminal enterprise to investigate the transaction further.
In one of the letters sent protectorFarage said he had no knowledge of the SAR, adding: “I have no reason to doubt the ultimate source of the money.”
On Tuesday, Mr Farage announced he would resign as an MP and stand in a by-election after coming under intense pressure over unregistered cash donations and support.
The Clacton MP said in a video statement: “I did nothing wrong. I did not break the law in any way.”
He accused the media of harassment and vowed to fight “against the people and the order” in the by-election.
He faced calls for an investigation after reports that he provided undisclosed funds for security and staff in the year before the election of his long-term ally George Cottrell.
Mr Cottrell reportedly hired and paid three people to work on Mr Farage’s social media before the general election and continued to let them use the five-storey Georgian property he rented near Buckingham Palace.
Under House of Commons rules, new MPs must register gifts worth more than £300 they have received in the previous 12 months, unless the gift “could not reasonably be considered by others” to be related to their political activities.
Labor and the Conservatives have said they will not stand in the by-election and any investigation into his finances must go well.
A Labor Party spokesman said: “Nigel Farage has been dragged into quite the scandal and is desperately trying to change the subject.
“This is deplorable and Labor will not allow it.”
Conservative leader Kemi Badenoch said: “We will stand in the real by-election, which will be held following the standard investigation into Nigel Farage’s questionable finances.
“We will not be running in the fake by-election that Farage is trying to distract people from what’s going on.
“We must let this investigation take its course and I think the reason Nigel Farage resigned was because he was afraid he would be found out to have done something wrong.”
An NCA spokesman said Independent: “The NCA does not confirm or deny the receipt of suspicious activity reports (SARs) and does not comment on how SARs are used. SARs are confidential and any breach of this confidentiality carries the risk of committing a tip-off offense under the Proceeds of Crime Act.”
