The £5 million gift to Nigel Farage from cryptocurrency billionaire Christopher Harborne was reported to the National Crime Agency (NCA) by bankers who suspected it may have been laundered money, the Guardian has revealed.
Farage, the Reform UK leader, faces further pressure over his finances after the disclosure, which came as he announced a by-election in his Clacton-on-Sea constituency. However, other major parties have said they will not field candidates, labelling the contest a “media circus” and “vanity project”.
According to financial industry sources, at least part of the £5 million was received after Farage announced on 23 May 2024 that he would not stand for parliament, with the remainder arriving shortly before he reversed his decision. Farage has offered conflicting accounts of the purpose of the gift and has insisted he had no obligation to disclose it as he was not a politician at the time.
The suspicious activity report (SAR) was raised by bankers on 16 May 2024, concerned about the origin of the funds given Farage’s status as a politically exposed person and Harborne’s involvement with cryptocurrencies. An SAR is not evidence of wrongdoing but invites the NCA to investigate further.
A new book by Michael Ashcroft, The Farage Factor, suggests that plans for Farage’s candidacy were already in motion by mid-May, contradicting his earlier denial. Farage has denied knowledge of the SAR and repeated unsubstantiated claims that the information was illegally obtained by the Guardian.
