Nigel Farage investigated by Parliamentary Standards watchdog over £5m gift

Nigel Farage is being investigated by the Parliamentary Standards watchdog over a £5million gift he received in 2024.

The probe will assess whether the Reform UK leader breached the House of Commons Code of Conduct by accepting the sum, which he accepted before becoming an MP.

After the hefty sum came to light last week, the Tories hurried to report the £5million to the parliamentary watchdog.

The Clacton MP has previously said that he was under no obligation to declare the donation since it was a personal gift to bolster his security team.

In a statement, a spokesman for Mr Farage's party said: "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."

The sum was offered by Christopher Harborne, a Thailand-based British billionaire and crypto investor.

Money received in the 12 months before being election should be registered, according to parliamentary rules.

The MP was referred to the independent body under Rule 5, which declares all MPs must "fulfil conscientiously the requirements of the House in respect of the registration of interests in the Register of Members' Financial Interests".

The Conservatives claimed that Mr Farage should have "have declared the gift to the Electoral Commission at the time as a regulated donee".

Previously, Mr Farage said he was handed the cheque to ensure his "safety and security for the rest of his life".

He added that he had "tried and failed" to have security funded via the Home Office.

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"I don’t think the state will ever help me. I'm very much on my own and will be for the rest of my life, and I have to face up to that grim reality," Mr Farage told The Telegraph last month.

"Christopher is an ardent supporter who is deeply concerned for my safety."

Over the weekend, Reform's deputy leader Richard Tice even admitted the £5million was "probably not enough" to ensure Mr Farage's safety.

Adding that his security was "paramount", he told the BBC: "The rules are very clear and Nigel has complied with the rules."

Donations from the Thailand crypto king has contributed to an ongoing debate about political party donations.

Last August, Mr Harborne donated £9million to Mr Farage's party, going down in history as the largest single donation to a political party from a living person.

After Labour introduced a temporary ban on cryptocurrency donations in a bid to limit foreign financial interference in March, the Clacton MP claimed Sir Keir Starmer's party was "out of touch".

He went on to insist the party's checks on cryptocurrency donations were "even stricter" than those imposed by the Electoral Commission.

Sir Keir also introduced a cap on donations from Britons abroad at £100,000, adhering to recommendations set out by civil servant Philip Rycroft.