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A top UK politician is under investigation after accepting a $6.5 million gift from a crypto billionaire that he never declared.
Getting into it: According to British media reports and an official briefed on the case, Reform UK leader Nigel Farage is being looked at by Parliamentary Standards Commissioner Daniel Greenberg after the Conservative Party formally referred him over the gift. The money came from Christopher Harborne, a British crypto investor based in Thailand who has poured millions into Reform UK and previously donated to the Conservatives. He handed Farage the $6.5 million in early 2024, weeks before Farage announced he’d run for a seat in that year’s general election.
UK parliamentary rules say new MPs have to disclose any financial benefits they got in the year before being elected, and they’ve got 30 days from taking their seat to file it. Farage says the money was a personal gift with no strings attached, that he received it before becoming an MP, and that he’s using it to pay for lifetime personal security after years of physical attacks and what he says were rejected police protection requests. Reform UK insists no rules were broken.
Despite this, critics note that since entering Parliament, Farage has become a vocal advocate for the crypto industry, called for lighter regulation, and pledged to turn Britain into a top destination for crypto and blockchain businesses.
If the commissioner finds he seriously broke the rules, he could face anything from a written apology to suspension from the Commons, with a suspension lasting more than 10 days potentially triggering a recall petition in his constituency. The investigation lands days after Reform UK swept up more than 1,400 council seats across England last week and finished second in the Welsh parliament vote.
In a statement, Reform UK deputy leader Richard Tice said, “Nigel’s safety and security is absolutely paramount. And I know, because I spend a lot of time with Nigel, that frankly $6.5 million is probably not enough.”
