Nigel Farage is preparing to launch private criminal proceedings against NatWest Group over the debanking scandal that cost former CEO Dame Alison Rose her job.
Sky News reported last night that Farage (main picture) has instructed top criminal lawyer Chris Daw KC to examine potential charges against the banking giant.
The move coincides with NatWest’s annual results release later this morning and comes just weeks before the government offloads its remaining stake in the bank – 17 years after its £45.5bn taxpayer bailout.
CRIMINAL MISCONDUCT
“This is unfinished business,” Farage told Sky News. His legal team at Grosvenor Law, already handling civil action against the bank, confirmed they are exploring possible criminal misconduct.
The debanking storm erupted in 2023 when NatWest’s Coutts subsidiary shut Farage’s accounts. The bank initially claimed commercial reasons but internal documents revealed his politics played a key role. The fallout was immediate – Prime Minister Rishi Sunak and Chancellor Jeremy Hunt pressured NatWest’s board, forcing Dame Alison’s resignation.
Since then, regulators have ordered banks to ensure politically exposed persons (PEPs) aren’t unfairly targeted.
Yet Farage’s latest legal action raises the stakes once again, challenging one of Britain’s biggest financial institutions at a time when he wields growing political influence.
SERIOUS CHALLENGER
The Reform UK leader has reshaped the political landscape, leading his party to multiple electoral wins and emerging as a serious challenger to both Labour and the Conservatives. His close ties to Donald Trump, who returned to the White House last month, only add to his clout.
Despite ongoing settlement talks, Farage has yet to reach a financial agreement with NatWest.
He’s seeking millions in damages for reputational harm. Meanwhile, under CEO Paul Thwaite, NatWest is in its strongest financial position in decades.
A NatWest spokesperson declined to comment.
