Nigel Farage bought £1.4m property in cash shortly after receiving £5m gift from crypto billionaire

While Nigel Farage has claimed that a £5million gift received from a crypto billionaire was to pay for his personal security, it’s now emerged that he purchased a £1.4m property in cash shortly after receiving the gift.

It was reported yesterday that Farage is now facing a formal investigation by the parliamentary commissioner for standards under rule 5 of the code of conduct obliging MPs to “fulfil conscientiously” requirements relating to their registration of interests.

Farage failed to declare the £5million gift from crypto billionaire Christopher Harborne before becoming an MP, saying that he was under no obligation to declare the gift because it had been given before he was elected.

Parliamentary rules require MPs to declare any “personal benefit” they have received in the 12 months before taking office, and to do so within a month of being elected.

Farage has insisted throughout that the gift was to pay for his personal security, however the Guardian now reports that he bought a property worth more than £1million following the gift.

Asked about the purchase of the property, a Reform UK spokesperson told the Guardian: “The relevant chronology is straightforward. The offer and purchase process for the property commenced before the gift. Mr Farage had already passed proof of funds and the relevant checks before receiving the gift. The purchase was therefore already proceeding independently of it.”