Nigel Farage earned £22,500 per hour promoting gold firm as £5m crypto gift probe deepens | The latest National and International News - upday News
Nigel Farage is facing mounting scrutiny over his finances after earning £270,000 for 12 hours promoting a gold company — equivalent to £22,500 per hour. The Reform UK leader is simultaneously under investigation by Parliament's standards watchdog for failing to declare a £5 million gift from crypto billionaire Christopher Harborne, raising questions about transparency and potential conflicts of interest. | The latest National and International News - upday News
Nigel Farage is facing mounting scrutiny over his finances after earning £270,000 for 12 hours promoting a gold company — equivalent to £22,500 per hour. The Reform UK leader is simultaneously under investigation by Parliament's standards watchdog for failing to declare a £5 million gift from crypto billionaire Christopher Harborne, raising questions about transparency and potential conflicts of interest. The Parliamentary Commissioner for Standards opened a formal investigation in May following a complaint from the Conservative Party. If found to have deliberately broken rules, Farage could face sanctions including suspension from the Commons. A suspension of 10 sitting days or more could trigger a by-election in his Clacton constituency. The £270,000 payment came from London bullion dealer Direct Bullion, where Farage serves as brand ambassador,The Financial Timesreported. This single payment represents the largest sum he has logged as an MP. Official disclosures show his total earnings from Direct Bullion now stand at over £685,500 since 2024, in addition to his MP's salary of £98,599. Property Portfolio Under FireThe Timesrevealed this week that Farage and his partner Laure Ferrari own at least five mortgage-free properties worth a combined £4 million across Surrey, Kent, and Essex. Only two appear on his parliamentary register of interests. Labour Party chairwoman Anna Turley accused Farage of attempting to hide his "property empire" and called for clarification. The party has dubbed him "five-homes Farage. " Reform UK insisted "everything has been properly declared and checked with the parliamentary registrar. "Farage toldThe Timesthat one undeclared property is exempt because his daughter lives there, while another is owned through his company Thorn in the Side Ltd and registered under "shareholdings. " He stated his main residence is a five-bedroom, Grade II-listed property with 7. 5 acres of woodland in Surrey. Crypto Lobbying AllegationsLabour MP Phil Brickell has referred Farage to the standards commissioner over allegations he lobbied the Bank of England for cryptocurrency policies that could benefit Harborne's business interests. Harborne is a major investor in Tether, a stablecoin that could be threatened by a state-backed digital currency. Farage met with Bank of England Governor Andrew Bailey in September 2025, reportedly urging him to drop digital currency plans. At a Zebu Live event in October, Farage expressed strong opposition to the digital pound, saying he would be prepared to go to prison to stop the proposal. Brickell stated it is "outrageous" if Farage is lobbying to weaken cryptocurrency regulations while simultaneously receiving funds from Harborne. The Labour MP chairs the All-Party Parliamentary Group on Anti-Corruption and responsible tax. Reform UK has stated that Harborne wanted "nothing in return" for the £15 million donated to the party and the undeclared £5 million gift to Farage. A Bank of England spokesman confirmed Farage's meeting with Bailey was part of their engagement with political representatives, noting they held "differing views. "New Billionaire Backer EmergesDespite the controversies, Reform UK announced it has gained a third billionaire donor. Iranian-born property magnate Sasan Ghandehari toldThe Telegraphthat his contributions would be significant, stating "it's not going to be one or two million" pounds. He called Farage the "only person who can change this country. "Ghandehari is moving his tax residency from Switzerland to the UK to facilitate his political donation. He joins Christopher Harborne and Ben Delo as billionaires backing Reform. In the first quarter of 2026, Reform UK raised £9. 9 million in donations, surpassing the Conservative Party's £6 million and Labour's £4. 1 million. Political Future in QuestionPiers Morgan stated on BBC last Sunday that Nigel Farage is "dead in the water" and has been left "rattled" by the controversies. One ally told theHuffington Postthat Farage is "tired and stressed," adding that he "needs to have a rest. "Analysis byi Papersuggests becoming Prime Minister would cost Farage nearly £1 million annually in lost income from his GB News fee and bullion promotion earnings. One senior Whitehall source questioned: "Why would he want to give that all up for five years at his time of life when he could continue to feather his own nest and do all the things he loves doing, like his GB News programme?"Since entering Parliament in July 2024, Farage has earned over £2 million in income and gifts beyond his MP's salary, according to an analysis by DeSmog and Spotlight on Corruption. His primary income source is GB News, paying him around £700,000 since 2024. Note: This article was created with Artificial Intelligence (AI).