Tory donor suggests party should convene ‘special investigation’ into co-chair Ben Elliot

Published

4 years ago

October 4, 2021

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A Conservative donor has suggested the party convenes a “special investigation'” into conflicts of interest surrounding the Tory co-chairman Ben Elliot.

Mohammed Amersi, a telecoms entrepreneur and philanthropist, has also argued the party should improve its governance structures and remove Mr Elliot if he does not comply.

“[Ben Elliot] has done a great job in terms of raising money,” Mr Amersi said.

“If there are any lapses in governance… they can be easily structured and addressed. Then the party and the board has to see whether he is somebody who’s willing and able to work within those structures.

“If the answer to that is yes, give him a chance. If the answer to that is no, then perhaps invite him to reconsider his position.”

Mr Amersi and his partner have donated £750,000 to the party over the last four years, and has since met Prime Minister Boris Johnson and senior cabinet figures.

But he has raised concerns about the blurred lines between Mr Elliot’s personal, political and business interests.

As well as his role as the party’s chief fundraiser, Mr Elliot runs Quintessentially, a “concierge” service for the super rich.

He is the nephew of the Prince of Wales and the Duchess of Cornwall.

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Mr Elliot also co-founded the PR and lobbying company Hawthorn Advisers, but says he is not involved in their day-to-day work.

He has been accused of soliciting charity donations in return for access to Prince Charles. There is no suggestion the future king was aware of this.

When approached at the Conservative Party conference in Manchester, Mr Elliot refused to answer questions from Sky News.

A Conservative Party spokesperson said: “Ben Elliot’s business and charitable work are entirely separate to the voluntary work he does for the party.

“Donations to the Conservative Party are properly and transparently declared to the Electoral Commission, published by them, and comply fully with the law.”

Clarence House has been approached for comment.

Politics

Crypto industry, trade unions clash over multi-trillion dollar retirement funds

Published

7 hours ago

December 12, 2025

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Crypto industry, trade unions clash over multi-trillion dollar retirement funds

A growing rift has emerged in Washington, D.C., between the cryptocurrency industry and labor unions as lawmakers debate whether to ease rules allowing cryptocurrencies in 401(k) retirement accounts.

The dispute centers on proposed market structure legislation that would allow retirement accounts to gain exposure to crypto, a move labor groups say could expose workers to speculative risk. In a letter sent on Wednesday to the US Senate Banking Committee, the American Federation of Teachers argued that cryptocurrencies are too volatile for pension and retirement savings, warning that workers could face significant losses.

The letter drew immediate pushback from crypto investors and industry figures. “The American Federation of Teachers has somehow developed the most logically incoherent, least educated take one could possibly author on the matter of crypto market structure regulation,” a crypto investor said on X.

Retirement, Pensions — *The AFT letter to Congress opposes regulatory changes that would allow 401(k) retirement accounts to hold alternative assets, including cryptocurrency. Source:* *CNBC*

In response to the letter, Castle Island Ventures partner Sean Judge said the bill would improve oversight and reduce systemic risk, while enabling pension funds to access an asset class that has delivered strong long-term returns.

Consensys attorney Bill Hughes said the AFT’s opposition to the crypto market structure bill was politically motivated, accusing the group of acting as an extension of Democratic lawmakers.

Opposition to crypto in retirement and pension funds mounts

Proponents of allowing crypto in retirement portfolios, on the other hand, argue that it democratizes finance, while trade unions have voiced strong opposition to relaxing current regulations, claiming that crypto is too risky for traditional retirement plans.

“Unregulated, risky currencies and investments are not where we should put pensions and retirement savings. The wild, wild west is not what we need, whether it’s crypto, AI, or social media,” AFT president Randi Weingarten said on Thursday.

The AFT represents 1.8 million teachers and educational professionals in the US and is one of the largest teachers’ unions in the country.

According to Better Markets, a nonprofit and nonpartisan advocacy organization, cryptocurrencies are too volatile for traditional retirement portfolios, and their high volatility can create time-horizon mismatches for pension investors seeking a predictable, low-volatility retirement plan.

In October, the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) also wrote to Congress opposing provisions within the crypto market structure regulatory bill.

The AFL-CIO, the largest federation of trade unions in the US, wrote that cryptocurrencies are volatile and pose a systemic risk to pension funds and the broader financial system.

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