UK Defence Secretary Wes Streeting faces probe over donations linked to Sam Bankman‑Fried

British Defence Secretary Wes Streeting received roughly £37,500 (about $50,600) in donations from the think‑tank Labour for the Long Term (LLT) during 2022‑23. LLT’s founder, David Lawrence, had accepted a £500,000 gift from disgraced cryptocurrency entrepreneur Sam Bankman‑Fried a month before the think‑tank made its first political contribution. Labour officials raised concerns about the source of LLT’s funding, though Streeting was not alerted to any issues.

Lawrence denies that Bankman‑Fried’s money was used for the donation and says LLT’s contributions came from other UK‑based donors. Streeting’s office says it carried out due‑diligence, found no indication of a link to the fraudster and that the donations were properly declared under electoral rules. Streeting has said, “I unreservedly condemn Bankman‑Fried’s actions and had no knowledge or suspicion of any criminal activity until it was reported in the news.”

Opposition figures, including Shadow Chancellor Alex Burghart, have called for the defence secretary to fully explain the source of the funds, highlighting broader concerns about opaque funding of unincorporated political associations.