politics
Betting account in George Cottrell’s name received $9mn in crypto from unidentified sources
Deposits in Polymarket wallet came as convicted fraudster was providing gifts to Farage
TL;DR
- A betting account in George Cottrell's name received nearly $9 million in cryptocurrency from two separate wallets on Polymarket.
- The funds were used to bet on Donald Trump winning the US presidential election, yielding a $4.46 million profit.
- After the election, most of the money was transferred out to two different wallets, with the sources and ultimate recipients remaining unclear.
- Cottrell has been providing gifts, staff, security, transport, accommodation, and travel for Nigel Farage and Reform UK throughout 2024.
- Cottrell was previously charged in a 'dark money' laundering scheme and pleaded guilty to wire fraud, serving time in prison.
- The Polymarket account received funds from OKX crypto exchange and another wallet filled via ChangeNOW.
- Cottrell's lawyers declined to comment on the beneficial owner of the wallet or the use of funds for Farage.
- A previous High Court claim alleged betting accounts in Cottrell's name were used by other gamblers for millions in wagers.