Nigel Farage Faces UK Parliamentary Standards Inquiry Over £5M Gift from Crypto Donor Christopher Harborne

Nigel Farage Faces Official Inquiry Over £5 Million Gift

Reform UK leader Nigel Farage is set to face an official inquiry by the UK’s Parliamentary Standards Commissioner after it was revealed he received a £5 million gift from Tether shareholder and Reform donor Christopher Harborne in early 2024. The money was given just weeks before Farage decided to stand as a candidate in the general election.

Farage Claims the Money Was a ‘Personal, Unconditional Gift’

Farage has stated that the £5 million was a “gift” intended to help him pay for private security, rather than a political donation. He maintains that the money was a personal, unconditional gift and that he was under no obligation to declare it. Opponents argue that he broke Commons rules by failing to register the gift in the MPs’ register of interests after his election.

Commons Code of Conduct and the Inquiry

According to the Commons code of conduct, MPs “must register all their current financial interests, and any registrable benefits (other than earnings) received in the 12 months before their election within one month of their election.” The rules also state that “purely personal gifts or benefits” do not need to be registered. However, they add that “both the possible motive of the giver and the use to which the gift is to be put should be considered,” and if there is any doubt, the benefit should be registered.

Reform UK Responds to the Inquiry

“Mr Farage’s office is in communications with the Parliamentary Commissioner for Standards. He has always been clear that this was a personal, unconditional gift and no rules were broken. We look forward to this being put to bed once and for all.”

Christopher Harborne: The Crypto Tycoon Behind the Gift

The revelation of the £5 million gift was first reported by The Guardian last month. Farage pre-emptively addressed the report in an article published in The Telegraph hours earlier, titled “Farage: My home was firebombed.”

In the article, Farage claimed that Harborne gave him the money “so that I would be safe and secure for the rest of my life.” He described Harborne as “an ardent supporter who is deeply concerned for my safety,” and criticized the lack of government security funding. Farage also disclosed that his home was the target of an arson attack last year.

Harborne’s Background and Political Influence

Christopher Harborne is a wealthy crypto tycoon with investments in aviation and defence firms. Over the past seven years, he has donated over £22 million ($29 million) to Reform UK. His portfolio includes significant holdings in Ethereum and Tether.

Since Harborne’s donation to Farage and Reform UK, Farage has:

• Promoted Tether on a UK talk show.
• Proposed various crypto-friendly policies.

Timeline of Key Events

• Early 2024: Christopher Harborne gifts Nigel Farage £5 million.
• Before general election: Farage decides to stand as a candidate.
• Last month: The Guardian breaks the story of the £5 million gift.
• Hours before The Guardian’s report: Farage publishes an article in The Telegraph addressing the gift.
• Present: Parliamentary Standards Commissioner launches an official inquiry into the matter.