Key facts
- Bankers filed suspicious activity reports (SARs) with the UK's National Crime Agency (NCA) concerning a £5 million gift to Nigel Farage from crypto billionaire Christopher Harborne.
- The SARs were filed due to concerns about the ultimate origin of the funds, as cryptocurrency transactions can be difficult to trace.
- The reports also involved other Reform UK figures, including Richard Tice and Fiona Cottrell, and a £1 million donation to Britain Means Business.
- Nigel Farage stated he was unaware of the SAR and denied any wrongdoing, while the NCA declined to confirm or deny receiving the reports.
- A parliamentary standards investigation is ongoing into whether Farage breached rules by failing to declare the gift.
Bankers have filed suspicious activity reports (SARs) with the UK's National Crime Agency (NCA) concerning a £5 million gift to Nigel Farage from cryptocurrency billionaire Christopher Harborne. The reports, filed on May 16, 2024, were prompted by concerns over the ultimate origin of the funds, as transactions involving cryptocurrencies can be harder to trace. Harborne, a British businessman based in Thailand and an investor in Tether, has also made significant donations to Reform UK. The bankers stated they were not satisfied they could trace the source of the money, a concern amplified by Farage's status as a politically exposed person and the nature of crypto holdings. Farage has stated he was unaware of the SAR and denied any wrongdoing, suggesting the information was illegally obtained. The NCA declined to confirm or deny receiving the report due to confidentiality rules. The timing of the gift has also come under scrutiny, with some sources indicating it arrived after Farage announced he would not stand in the general election, a timeline that appears to conflict with other accounts. Farage has offered various explanations for the gift. Separately, a parliamentary standards investigation is underway into whether Farage breached rules by failing to declare the gift, as he became a "person of significant control" of Reform's corporate entity on May 1, 2024. George Cottrell, a convicted fraudster with ties to an offshore crypto casino, has also called for an investigation into Farage's financial disclosures.