The National Crime Agency (NCA) has received a suspicious activity report (SAR) regarding a £5 million gift to Reform UK leader Nigel Farage from cryptocurrency billionaire Christopher Harborne, the Guardian has revealed. Bankers raised the alert on 16 May 2024 over concerns the funds may have been laundered.
Farage, who is already under investigation by the parliamentary standards commissioner for failing to declare the gift, has given contradictory accounts of the money's purpose. He initially claimed it had no bearing on his decision to stand in the 2024 general election, but later insisted he was under no obligation to disclose it as he was not a politician at the time.
Financial industry sources indicate that Farage received partial payments after 23 May, when he publicly ruled out standing for parliament, and the balance shortly before reversing that decision on 3 June. His announcement on Tuesday of a forced byelection in Clacton-on-Sea was dismissed by rival parties as a “media circus” and “vanity project”, with all major parties declining to field candidates.
Christopher Harborne’s lawyers have claimed the money was transferred on 5 April 2024, but did not provide substantive responses to Guardian queries. Farage stated he was unaware of the SAR and had “no reason to doubt the ultimate source of the money”, while repeating unsubstantiated claims that the information was illegally obtained.
The gift has triggered the most significant political crisis of Farage’s career, with the NCA now examining the transaction. An SAR is not evidence of wrongdoing but invites the agency to investigate further. Farage became a “person of significant control” for Reform’s corporate entity on 1 May 2024, effectively owning and controlling the party.
