Met Police probe untraceable £1m behind Reform UK donations
The Metropolitan Police are investigating £1m in untraceable funds routed to Reform UK through a corporate vehicle, raising regulatory questions about political financing and anti-money laundering controls.
The Metropolitan Police have opened a criminal investigation into £1 million in donations made to Reform UK ahead of the 2024 general election. The inquiry, launched in February following a referral from the Electoral Commission, centres on alleged offences under section 61 of the Political Parties, Elections and Referendums Act 2000. Detectives from the Met’s special enquiry team are leading the investigation.
At the centre of the scrutiny is the use of a corporate vehicle to channel funds to the political party. Britain Means Business, a company solely directed by Reform’s deputy leader Richard Tice, made two £250,000 donations to the party in the weeks before the election. This followed a £1 million transfer from Fiona Cottrell to the company, of which roughly half was subsequently passed to Reform UK.
The untraceable nature of the original capital has triggered significant anti-money laundering protocols. Bankers submitted a suspicious activity report to the National Crime Agency regarding Cottrell’s transfer to Tice’s company. Neither the NCA nor the banking institutions have been able to identify the source of the original £1 million. The NCA is now seeking assistance from an unnamed foreign partner to trace the funds.
The financial trail has also drawn in direct contributions. Cottrell made two additional donations of £250,000 each directly to Reform UK in May 2024, which are also part of the police investigation. Her son, George Cottrell, is a convicted fraudster with close ties to Reform leader Nigel Farage. Both Fiona and George Cottrell have been interviewed under criminal caution, though no arrests have been made.
Tice, who was elected to parliament in the recent poll, pushed back strongly against the investigation when approached by the BBC. “This is the first I have heard of it – if true why are the Met police briefing the BBC before contacting interested parties?” he said. “Is the Met leadership now engaged in the widespread politically motivated smear campaign against Reform and its leaders?”
A spokesperson for Reform UK defended the party's financial controls. The spokesperson noted that the party “takes pride in its stringent vetting of donations and always ensures that the Electoral Commission guidelines on donations, as set out in the Political Parties, Elections and Referendums Act 2000, are strictly followed, as has been the case with donations so far.”
