UK parliament to probe Nigel Farage’s $6.8 million donation from crypto billionaire If found guilty of violating the Parliamentary code of conduct, the Reform UK party leader could be suspended from the House of Commons.
What to know: – Nigel Farage is facing a formal investigation by the parliamentary standards watchdog over his failure to declare a 5 million-pound gift from crypto billionaire Christopher Harborne, U.K. news services reported. – Farage and his Reform UK party argue the donation, said to cover his security costs, was a purely personal gift exempt from disclosure rules, a claim disputed by Labour and other parties
Nigel Farage, the leader of Reform UK and a member of Parliament, is facing a formal investigation by the parliamentary standards watchdog after failing to declare a 5 million-pound ($6.8 million) gift from crypto billionaire Christopher Harborne, news services including the Guardian reported Wednesday. Farage received the donation from Harborne, a Thailand-based businessman with a 12% stake in stablecoin issuer Tether, weeks before announcing he would stand as a candidate in the 2024 general election, and did not declare it when elected as MP for Clapton. New MPs must register all financial interests received within the 12 months preceding their election.
A weekly YouGov poll of voting intentions has Reform UK gaining the largest share of votes, at 28%, putting Farage as the frontrunner to become the next prime minister. If the watchdog finds he breached the code of conduct, he could face suspension and potentially be forced to fight again for his parliamentary seat. Farage, who is supportive of the crypto industry, has said that because Harborne’s donations were intended to cover his security expenses he was not compelled by law to declare them.