Farage ‘bought £1.4m property in cash’ after receiving £5m gift from British crypto billionaire

The Reform leader purchased the property after being gifted the eye-watering sum from Christopher Harborne, according to the Guardian.

In explaining the donation, Mr Farage has said that the sum was for his private security and that it was a “reward” for spearheading the Brexit campaign over nearly 30 years.

The Reform UK leader received the donation weeks before he announced he would stand as a candidate in Clacton ahead of the 2024 General Election.

Asked by the Guardian about the property outside of London, a Reform UK spokesperson said: “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.”

Mr Farage initially claimed the payment did not need to be declared and that he had not broken any rules, with the fee intended to cover his security costs.

The Reform UK leader had previously claimed his taxpayer-funded security had been slashed, posing a threat to his welfare, with fellow Reform UK member Zia Yusuf insisting “Mr Farage’s security detail had been cut by 75 per cent”.

Mr Yusuf added that private donors had stepped up to cover the difference.

Mr Farage claims the donation, handed to the party by billionaire Christopher Harborne, does not need to be declared given it took place before he became an MP.

However, Parliamentary rules state any benefits received 12 months before taking office should be declared, depending on whether the ‘gift’ was for political or personal purposes.

Anna Turley, the chair of the Labour Party, told the Guardian: “Nigel Farage has repeatedly dodged questions on his multimillion-pound ‘gift’.

“Now we can see why – this totally stinks. Farage must urgently come clean with the public as to what this £5m was used for and why he failed to declare it.”