Key facts
- Nigel Farage reportedly struck a deal to return as leader of Reform UK in March-April 2024.
- Farage claimed he had no intention of returning to politics until June 2024.
- He received a £5m personal gift in April 2024 from crypto billionaire Christopher Harborne, which he did not disclose.
- Farage is also under investigation for alleged financial support from George Cottrell.
- The reported deal involved Reform UK repaying over £1m in loans from Richard Tice's company.
Reports suggest Nigel Farage struck a secret deal to return as leader of Reform UK in early 2024, months before the general election, contradicting his public statements. The Sunday Times reported that Farage was in discussions about a return as early as March 2024, with the deal supervised by his friend George Cottrell.
Under the reported terms, Reform UK would repay or write off over £1m in outstanding loans from the company of then-leader Richard Tice once Farage took over. This alleged pact, presented to the party's treasurer in mid-May, undermines Farage's claim that he had not decided on a political return until June 2024.
These revelations have led the Labour party to accuse Reform UK of operating under a "stench of sleaze." Bridget Phillipson, chair of the Labour party, stated that the reports "blow Nigel Farage's story apart" and raise further questions about a £5m personal gift Farage received in April 2024 from crypto billionaire Christopher Harborne, which he did not disclose. Parliamentary rules require MPs to register financial interests and gifts received in the 12 months prior to election.
Farage has stated he was an "influencer" and media personality at the time of the gift and thus not obligated to declare it. The parliamentary standards watchdog has opened an investigation into the £5m gift. Additionally, Farage faces another inquiry concerning allegations of financial support from George Cottrell, a close friend who was previously jailed in the US for wire fraud. Cottrell and his mother, Fiona Cottrell, have been interviewed by Scotland Yard detectives regarding substantial donations made to Reform UK shortly after Cottrell transferred funds to his mother.
Farage is currently contesting a byelection in Clacton, having resigned from Parliament over the issue. He has accused those questioning his financial backing of "demonising" him. Election law prohibits concealing or disguising donations from impermissible donors or using false information about them. Tice has stated that Fiona Cottrell was a permissible donor and he understood her son to be one as well.