Nigel Farage to face formal investigation over undeclared £5m gift from crypto billionaire

He is set to be probed.

The Reform leader has been under scrutiny in recent weeks over the money, that he received from Thailand-based crypto billionaire Christopher Harborne in 2024.

Farage did not declare the money, and will now be investigated by the Parliamentary Standards Commissioner over whether he breached the House of Commons Code of Conduct in the process.

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The Clacton MP has said he was sent the money by Harborne so he could fund his personal security costs.

Farage has denied that he should have declared the sum, which he received just weeks before announcing he would stand as a candidate in the 2024 general election.

Commons rules state that MPs are required to declare any potentially relevant gifts or donations received in the 12 months before entering parliament.

Labour and the Conservative Party have both claimed the money from Harborne falls within these rules.

Should an investigation conclude that Farage committed a serious breach of parliamentary rules, he could be suspended from the Commons.

In the process, this could end up with him facing a by election in his Clacton seat.