Crypto Bet Sparks Questions About Politician’s Funding
A betting platform account linked to a known fraudster—who has previously funded a prominent UK politician—amassed nearly $9 million in cryptocurrency during 2024.
The account, named “GCottrell93,” received funds from two sources:
| Source | Amount | Method |
|---|---|---|
| Two exchanges | $7 million in five installments | Direct deposits |
| Conversion service | $1.8 million | Currency conversion |
Each influx was immediately staked on Donald Trump’s U.S. election victory. After the win, the account netted $4.5 million in winnings before transferring most of that profit to other wallets.
Investigative Findings
- Strong evidence ties the account to the fraudster, who previously lost $550 000 on a separate political bet.
- The fraudster’s lawyers remain silent, asserting that silence does not imply guilt.
- The politician’s party has yet to comment.
Alleged Undisclosed Support
Earlier reports revealed that the fraudster financed the politician’s:
- Travel, staff, security, and housing for a year prior to winning a parliamentary seat.
- Three social media staff and the politician’s private security.
These benefits were not declared as required by parliamentary rules, which mandate disclosure of gifts that could influence a member’s actions.
The same fraudster is also linked to a cryptocurrency gambling site potentially operating without proper licensing in the UK. Since the election, he has allowed the politician to reside in a house near Buckingham Palace that he rents—close to the party’s headquarters. Whether money from unknown sources funded these benefits remains unclear.
Background on the Fraudster
- Born into an aristocratic family.
- Convicted in 2016 of wire fraud tied to a dark‑web money‑laundering scheme; served eight months in prison.
- Currently seeking a presidential pardon in the United States.
Political Fallout
The politician’s crypto ties are under growing scrutiny:
- A bank flagged a £5 million gift from a billionaire crypto investor.
- The UK’s standards watchdog investigated potential lobbying.
- The politician resigned his parliamentary seat in early July, labeling a by‑election a “people versus establishment” fight.
- Major parties declined to participate, deeming the contest a stunt.
These events raise critical questions about how anonymous money may influence political activities and whether proper disclosures were made.
