George Cottrell, a convicted fraudster and close associate of Nigel Farage, transferred more than $2m to his mother, Fiona Cottrell, in the days before she made donations totaling £1.5m to Reform UK in 2024, according to financial industry sources cited by the Guardian.
Details of the Transfers
Sources told the Guardian that Fiona received one deposit of $1.4m and two tranches exceeding $300,000 each. When bankers inquired, she attributed the funds to her son, George. The transfers were made 24-72 hours before Fiona donated directly to Reform UK or via Britain Means Business, a fundraising vehicle for the party.
The lump sums were routed through US-based cryptocurrency exchanges, which convert crypto-assets into hard currency like US dollars or British pounds, and some were processed via money exchange services, according to sources.
Donation Timeline and Amounts
Fiona Cottrell was a major donor to Reform UK in 2024. She made two public donations of £250,000 each in May 2024, preceded by transfers of $318,878 and $328,815 from her son. In June 2024, she gave over £1m to Britain Means Business, controlled by deputy leader Richard Tice. This transfer was not declared officially at the time and was routed via Oneify, an Australian money exchange service. Half of that sum was later transferred to the party by Tice without disclosure of its origin.
Sources say that $1,400,000 was deposited into Fiona's account by George before she gave £1,075,000 to Britain Means Business on 10 June 2024, weeks before the general election. In total, George deposited $2,047,693 into his mother's account.
George Cottrell's Role
Two Reform UK sources involved in pre-election fundraising told the Guardian that George assured senior party figures that money would be forthcoming. One source said: “He was acting as a sort of shadow treasurer, saying he would find a way to get more money in.”
Lawyers for George Cottrell declined further comment. In previous correspondence, George did not deny giving large sums to his mother, stating that “any political donations his mother has made have been entirely her own decision, and are a matter for her.” Fiona Cottrell has not responded to multiple contact attempts.
Investigations and Wider Context
The Metropolitan police are investigating Reform UK funding, focusing on potential attempts to disguise donation sources. The probe follows revelations that Nigel Farage received a £5m gift from crypto-billionaire Christopher Harborne. Farage faces investigations by the parliamentary standards commissioner over undeclared benefits.
Richard Tice has not addressed questions about his £80,000 loan from George Cottrell or his transfer of £500,000 from Britain Means Business to Reform UK despite bankers' concerns. He accused the Metropolitan police of a smear campaign, posting on X: “The Establishment are playing dirtier than ever to try to smear & discredit Reform leaders.”
The Met stated: “An investigation was launched in February 2025 after a referral from the Electoral Commission. Detectives are investigating alleged offences under section 61 of the Political Parties, Elections and Referendums Act 2000. Two people have been interviewed under caution; no arrests have been made.”
A Reform UK spokesperson denied the shadow treasurer claims, saying: “We deny this completely. Reform takes pride in its stringent vetting of donations and always ensures that Electoral Commission guidelines are strictly followed.”
