Scotland Yard has opened a criminal investigation into two £250,000 donations made to Reform UK by a company controlled by its deputy leader, Richard Tice, in the weeks before the 2024 general election.
The inquiry focuses on payments from Britain Means Business – a firm of which Tice is the sole director – to the party he then chaired. The Guardian first revealed the transfers earlier this month, prompting the Metropolitan police to act.
“Met police probe two £250,000 Reform UK donations from Richard Tice's company after Guardian revealed funds from convicted fraudster's mother.”
According to filings and sources, Fiona Cottrell transferred £1m to Britain Means Business shortly before the donations were made. About half of that sum was then passed on to Reform UK. Cottrell’s son, George, is a convicted fraudster with close ties to Reform leader Nigel Farage.
Both Fiona and George Cottrell have been interviewed under criminal caution as part of the police investigation, the Guardian reported. The scope of the inquiry also covers two direct donations of £250,000 each that Fiona Cottrell made to the party in May 2024.
The transfer from Fiona Cottrell to Britain Means Business was flagged to the National Crime Agency by bankers via a suspicious activity report – a mechanism used to identify potential money laundering, though not itself a crime report. The Guardian understands that neither the NCA nor the banks have been able to trace the source of the original £1m, and the NCA is now seeking help from a foreign partner to determine where the money came from.
Tice, who was elected to parliament in the 2024 poll, reacted angrily when asked about the investigation 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?”
He has previously described reports about the money as a “politically motivated smear campaign”.
A Reform UK spokesperson said: “Reform 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.”
Fiona Cottrell did not respond to requests for comment.
The investigation places the party’s internal financial controls under fresh scrutiny, with questions now turning to whether Tice’s dual role as director and donor conduit breached electoral law.