Nigel Farage had his bank shut down because of his ties to President Donald Trump, spurious accusations of ties to Russia, and his positions on Brexit, LGBT, and vaccines.
An unnamed Coutts bank source claimed Farage had fallen below a financial threshold needed to maintain his account.
However, a subject access request filed by the Brexit leader revealed the removal of his bank accounts where politically motivated.
According to a 40-page document produced by the bank, they acknowledged multiple times that he fulfilled the “economic contribution criteria for commercial retention,” meaning they didn’t shut down his account due to a lack of funds.
The document also adds that the bank stated in November of last year that it did not believe that continuing to bank with Farage was “compatible with Coutts given his publicly-stated views that were at odds with our position as an inclusive organization.”
In what seemed like an attempt to cover their tracks, the bank claimed it was not a “political decision, but one centered around inclusivity and purpose.”
But one such infringement of the bank’s stance on “inclusivity” was Farage’s ties to President Donald Trump, which is mentioned 39 times in the bank’s dossier.
“The fact that I support Donald Trump is part of this charge sheet,” Nigel Farage said of the bank dossier.
His banks also cited his friendship with Serbian tennis star Novak Djokovic, who refused to take the coronavirus vaccine.
Farage is also accused of being “xenophobic and racist” and espousing distasteful views that appear increasingly “out of touch with wider society.”
While the bank alleged Farage’s ties to Russia 144 times, it admitted it had no evidence to support assertions.
Regardless, the bank included false accusations from Labour MP Sir Chris Bryant Farage received £548,573 “from the Russian state.”
“I have always said that after Brexit and Donald Trump’s victory in America in 2016, the globalist elite worked hard to undermine those at the forefront of anything that threatened the status quo. In this, it was spurred on by the mainstream media in Britain and America,” Mr. Farage wrote, adding: “Vladimir Putin’s Russia was the obvious choice for their smear campaign.”
The document also noted that Farage is a Politically Exposed Person (PEP), despite claims that was not the reason for his being de-banked
“This story is not just about me,” Farage said.
“You could be next … if this situation is left unchecked, we will sleepwalk towards a China-style social credit system in which only those with the ‘correct’ views are allowed to fully participate in society.”
“Never forget: taxpayers bailed out the banks after their executives’ greed and stupidity in 2008. Now, rather than making sure we get a decent return, banks like Coutts are busy playing political games. Their contempt for the public knows no bounds,” Farage said.
A Coutts spokesman said, “Our ability to respond is restricted by our obligations of client confidentiality.”
“Decisions to close accounts are not taken lightly and take into account a number of factors including commercial viability, reputational considerations, and legal and regulatory requirements.”