Nigel Farage purchased a £1.4 million property in cash shortly after being gifted £5m by crypto billionaire Christopher Harborne in 2024, it has been reported.
Sky News reports that Farage completed the purchase of the property in May 2024, just weeks before the politician decided to stand as an MP in that year’s general election.
A Reform UK spokesperson told the outlet: “The offer and process for purchase of this property commenced before the gift”.
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This week, it was confirmed that Farage would face an official probe over the £5m, which was gifted to him by Thailand-based crypto billionaire Christopher Harborne. This was shortly before Farage announced his U-turn decision to stand as an MP in Clacton.
Harborne has since gone on to donate £12m to Reform UK, who have become the most pro-crypto party in British politics.
Farage did not declare the £5m and is being investigated by the Parliamentary Standards Commissioner over whether this constituted a breach of Commons rules.
The House of Commons code of conduct states that “new 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”.
Farage has maintained he didn’t have to declare the £5m gift, which he says was given to him by Harborne to help fund his personal security.
Reform UK have said the money was a “personal unconditional gift” unrelated to politics.
Separately from the Parliamentary Standards Commissioner, the Electoral Commission are weighing up whether to investigate the £5m payment to Farage.