What to know:
- Nigel Farage allegedly received undisclosed political support before becoming an MP, according to The Sunday Times, raising parliamentary disclosure questions.
- George Cottrell’s reported crypto gambling links and Christopher Harborne’s donations have intensified scrutiny surrounding Farage’s financial relationships and declarations.
- Farage denied wrongdoing as parliamentary investigations continue, while renewed attention also focuses on his cryptocurrency policies and personal financial interests.
Nigel Farage allegedly failed to declare financial support linked to convicted fraudster George Cottrell before entering Parliament, according to a report by The Sunday Times. The investigation claims the undisclosed assistance covered several services connected to Farage’s political activities during the year before he became MP for Clacton on July 4, 2024.
According to the newspaper, Cottrell paid for Farage’s private security, accommodation, drivers, and social media staff before the general election. Lawyers representing Cottrell also confirmed that he hired employees for Farage’s private office and paid their salaries through bank transfers.
House of Commons rules require newly elected MPs to register benefits exceeding £300 received during the previous year if those benefits relate to political activities. Personal gifts remain exempt from those disclosure requirements. Farage declared a £9,253 trip to Belgium funded by Cottrell and later reported a £15,276 flight donation. However, he did not disclose any additional support from Cottrell.
The report has renewed attention on Cottrell because of his criminal record and growing involvement in the cryptocurrency industry. In 2016, authorities arrested him at Chicago’s O’Hare Airport while he traveled with Farage. He later pleaded guilty to wire fraud during a money laundering investigation and served eight months in prison.
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Crypto business connections add another layer to the investigation
According to The Sunday Times, Cottrell later became a key figure behind Tether.bet, an offshore gambling platform that accepts cryptocurrency, including Tether’s USDT stablecoin. The newspaper reported that the platform’s website was registered shortly after Cottrell, Farage, and billionaire investor Christopher Harborne met in London during 2020.
Harborne reportedly owns an estimated 12% stake in Tether and has donated more than £12 million to Reform UK. Besides those donations, he is also the subject of a separate parliamentary standards investigation involving an estimated £5 million personal gift made to Farage during 2024.
The investigation further alleged that UK customer deposits reached Tether.bet through two British shell companies as recently as 2022. One of those companies reportedly belonged to Reform UK’s current data protection officer. Cottrell denied personally recruiting customers for the gambling platform.
Meanwhile, Parliamentary Standards Commissioner Daniel Greenberg continues examining the previously undisclosed Harborne gift. Liberal Democrat MP Josh Babarinde has now requested that the commissioner also investigate the newly reported allegations involving Cottrell.
Farage rejects claims as crypto policies draw attention
Farage rejected the allegations through a spokesperson, who described the report as baseless and maintained that no parliamentary rules were broken. The spokesperson argued that the support occurred before Farage became an active politician.
Additionally, the latest disclosures have attracted greater attention because both Cottrell and Harborne maintain financial interests in the cryptocurrency sector. Farage has pledged to establish a Bank of England Bitcoin reserve and reduce capital gains tax on digital assets if Reform UK wins power. Earlier this year, he also disclosed a 6.3% stake in UK bitcoin treasury firm Stack BTC.
Farage’s support for digital assets has already prompted separate complaints from political opponents. Earlier this year, Liberal Democrat deputy leader Daisy Cooper requested that the Financial Conduct Authority examine whether his public promotion of cryptocurrencies could amount to market abuse. Farage has consistently denied any connection between his financial relationships and his policy positions.
The latest allegations have added another layer to ongoing parliamentary scrutiny as standards investigators continue reviewing Farage’s financial declarations and political funding arrangements.
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