The National Crime Agency has received a report concerning an undisclosed £5 million gift provided to Reform UK leader Nigel Farage by a cryptocurrency billionaire shortly before the 2024 general election, according to a Guardian investigation. The development comes as a host of transactions involving senior party figures have prompted bankers to raise potential money-laundering concerns with the agency.
The gift, from Thailand-based businessman Christopher Harborne, was first revealed by the Guardian in April. It is one of several suspicious activity reports filed by financial institutions regarding donations and loans connected to Reform UK and its most prominent members. The NCA is now examining the circumstances surrounding the payment.
In a separate case, a £1 million donation made to Britain Means Business, a fundraising organisation for Reform UK, was also reported to the NCA. Half of that sum was subsequently transferred by party figure Richard Tice, acting as director of the company, to Reform UK. The donation ostensibly came from aristocrat and Reform UK donor Fiona Cottrell, but bank staff were reportedly not satisfied that the funds had ultimately originated from her. The Guardian understands that the NCA has sought assistance from a foreign partner agency to trace the original source of those funds.
Two further suspicious activity reports relate to a loan from George Cottrell, Fiona Cottrell's son, to Tice. The loan was made shortly before Tice finalised a property purchase and made a party donation, and was not repaid until after those two transactions were completed, according to sources. George Cottrell is a convicted fraudster, a former deputy treasurer of the UK Independence Party, and a close associate of Farage.
The revelations have cast a shadow over Farage's political manoeuvres. He recently resigned as an MP, triggering a by-election in his Clacton constituency, which he intends to contest. The by-election has drawn attention not only for the NCA reports but also for the unusual field of candidates. Farage faces only Count Binface, a serial joke candidate, as his main opposition after all major parties declined to stand against him. Count Binface described the contest as a "farce," a characterisation that has gained traction amid the ongoing financial scrutiny.
The NCA has not confirmed whether it has opened a formal investigation into any of the reported transactions. However, the filing of multiple suspicious activity reports involving senior Reform UK figures indicates that financial institutions have identified potential irregularities that warrant law enforcement attention. The agency's involvement with a foreign partner to trace the origins of the £1 million donation underscores the complexity of the financial flows under review.
Farage has not publicly commented on the NCA report regarding the £5 million gift. The Reform UK party has previously defended its funding sources, insisting that all donations comply with electoral law. The developments are likely to intensify scrutiny of the party's finances as the by-election campaign unfolds.
