Tax evader Michael AshcroftTories face £5m black hole after launch of inquiry into Ashcroft
David Cameron faces embarrassment and the prospect of a near £5m black hole after the electoral watchdog began a formal investigation into the Tories’ biggest donor.
The Electoral Commission has launched an inquiry into donations made by a company controlled by Lord Ashcroft, the party’s deputy chairman and key strategist. The move follows complaints that £4.7m of gifts to the Conservatives from Lord Ashcroft’s company, Bearwood Corporate Services, could have breached electoral laws.
The party could be ordered to pay back the money if it is judged to have wrongly accepted it.
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