David Warburton, the suspended Conservative MP for Somerton and Frome, has been found to have breached Parliament's code of conduct over a £150,000 loan from a Russian-born businessman. The Parliamentary Commissioner for Standards ruled that Warburton failed to declare the loan, which was provided by Roman Joukovski via an offshore trust based in the Seychelles in August 2017.
Warburton, who lost the Conservative whip in April after allegations of sexual misconduct, argued that the loan was a commercial arrangement on 'non-preferential terms' and was repaid by March 2022. He claimed it was 'entirely unconnected' with his role as an MP and did not influence his actions.
However, after receiving the loan, Warburton wrote to the Financial Conduct Authority (FCA) urging it to reconsider its assessment of Joukovski, who had been refused certification as a fit or proper person. The commissioner found that while the loan had not influenced Warburton's parliamentary actions, it should have been declared in the register of members' interests, resulting in two breaches of the code.
Warburton avoided punishment after acknowledging and apologising for the breaches, and agreed to add the loan to the register. He was first elected as MP for Somerton and Frome in 2015.
