Conservative Party Member Suspected in Election Betting Scandal Emerges Under Investigation
The UK Gambling Commission (UKGC) is probing a fourth individual from the Conservative Party administration in the UK for suspected insider gambling, specifically on the unexpected July 4 election announcement by Prime Minister Rishi Sunak on May 22.
The Tory Party's data chief, Nick Mason, has been added to the list of those under suspicion for allegedly placing "dozens" of bets, according to a source speaking to London's Sunday Times. Mason maintains his innocence.
Mason joins Sunak's intimate aide, Craig Williams, who confessed to placing a £100 wager on the likelihood of a July election at odds of 5/1, but has declined to elaborate on whether the bet was fueled by privileged information.
Williams is contesting the election as MP for Montgomeryshire, Wales, along with election contender Laura Saunders for Bristol North West. Both Saunders and her husband, Tony Lee, the Conservative Party's director of campaigns, are also under suspicion.
A member of Sunak's personal security team has also been suspended as a result of the UKGC investigation.
Sunak ‘Furious’
The ongoing scandal has thrown the party's election campaign into disarray with only a fortnight remaining before voters cast their ballots to determine the next administration.
The Tories have been lagging behind in the polls since the beginning of 2022, with bookmakers offering them odds of 1/200 to win the election, equating to a minuscule 0.5% probability. With the campaign seemingly destined for failure already, the situation has worsened significantly.
During a live TV debate aired by The Sun newspaper on Monday, Sunak expressed his fury over the situation, but turned down calls to suspend his four colleagues, citing the ongoing UKGC investigation.
Should anyone be found to have broken the rules, they will not only face the full brunt of the law, but will also be expelled from the Conservative Party, Sunak asserted.
Insider gambling is illegal in the UK, carrying a maximum jail sentence of two years under the "cheating at gambling" clause of the 2005 Gambling Act.
The Sun's Harry Cole accused the Tories of snatching silverware on their way out of government.
‘High-Risk Individuals’
Unlike in the US, political betting markets are legal in the UK, but they are comparatively small and are vigilantly monitored by operators, especially when the outcome of a certain bet could potentially be known in advance by a restricted group of individuals.
Meanwhile, operators are obligated to pay close attention to customers who qualify as "politically exposed persons" (PEPs) under anti-money laundering regulations, as they tend to have a higher risk of association with bribery or corruption, and consequently, money laundering.
Williams' bet was the first to be discovered and was referred to the UKGC by the operator he placed the bet with. The commission then contacted all significant UK betting companies, seeking details of gamblers who had wagered £20 or more on a July election prior to Sunak's announcement.
According to the BBC, more individuals are under scrutiny, including those with ties to Conservative Party insiders.
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