Polymarket account in the name of Farage Backer received $9 million in cryptocurrencies from unknown sources: FT

A Polymarket account in the name of George Cottrell, the convicted fraudster who bankrolled UK reform leader Nigel Farage, obtained $8.8 million in cryptocurrency from unspecified sources in 2024 and used it to bet on Donald Trump’s election victory. Financial Times I mentioned.

The account is registered under “J. Cottrell 93” It was filled in late October 2024 from two cryptocurrency exchanges — $7 million from OKX, sent in five tranches, and $1.83 million routed through ChangeNOW, an exchange. foot He said, quoting general blockchain Data. Every time the money arrives, it is immediately bet on Trump’s victory. After his win, which turned the account into a profit of $4.46 million, almost all of the money was moved to other wallets. It is unclear who provided the money and who collected the winnings.

the Prediction market The account has not been officially linked to Cottrell. Blockchain investigator ZachXBT said he holds that “High confidence” It belongs to him, after it was reported earlier this year over Loss of $550,000 On a bet on US strikes on Iran. Cottrell’s lawyers declined to comment on his finances or specific transactions, saying their silence did not mean he accepted the ruling. footResults. Reform UK did not respond to the paper.

Farage and Cottrell

A Sunday Times An investigation earlier this month concluded that Cottrell bankrolled Farage’s operation – staff, private security, transport and accommodation – in the year before he won his parliamentary seat, benefits that the reform leader did not declare. Under the representatives code of conductmembers must disclose gifts, benefits, and hospitality that “others might reasonably believe influence their actions or words.” The newspaper reported that Cottrell covered Farage’s security for several months, hiring and paying three employees to manage his social media.

The investigation also linked Cottrell to a cryptocurrency gambling platform that he said was involved in “potentially illegal” unlicensed betting in the UK. Since the elections, Sunday Times He was reported to have allowed Farage to use a five-storey house he rents near Buckingham Palace, minutes from Reform headquarters; His lawyer said Cottrell “as a close friend allowed Mr Farage to remain at” the property.

both Sunday Times and foot They pressed on whether money from unspecified sources helped fund Farage’s benefits or reform, a question Cottrell refused to answer, including who beneficially owned the Polymarket portfolio.

Cottrell (32 years old) was born into an aristocratic family. In 2016, US prosecutors charged him with 21 counts related to an alleged money laundering scheme on the “dark web.” he plead guilty to one count of wire fraud under a deal that dropped the rest, and he served eight months in prison. He has since applied for a US presidential pardon Sunday Times I mentioned.

Farage’s cryptographic relations

The report comes amid in-depth scrutiny of Farage’s connections to cryptocurrencies. Earlier this month, it was revealed that bankers had made an application Suspicious activity report More than 5 million pounds ($6.7 million) were a gift to him from billionaire Tether investor Christopher Harbourne. Reported to the UK standards watchdog Due to the alleged cryptocurrency squeeze.

Farage resigned from his Clacton seat on July 8 and was forced to hold a by-election, which he described as a battle of “the people versus the establishment.” He denied any wrongdoing after weeks of scrutiny of his finances. Main parties – Labour, Conservatives, Liberal Democrats, Greens –He refused to standHe dismissed the contest as a ruse.

Between A A record field of 34 competitorsFarage’s most prominent competitor in the August 13 elections is the cynical candidate Count Benfaswho describes himself as an “intergalactic space warrior” from planet Sigma IX and campaigns with a metal trash can on his head.