Nigel Farage may bring criminal charges against NatWest for ‘debanking him’ as the Reform UK leader called the saga ‘unfinished business’. 

The MP for Clacton is exploring the feasibility of a private criminal case against the banking group, Sky News reported.  

A scandal erupted in June 2023 when the private bank Coutts, the eighth oldest bank in the world, shuttered the Reform UK leader’s account.

The financial institution, which is part of the NatWest Group and whose clients include many members of the British royal family, claimed that Farage failed to meet the eligibility criteria following the expiry of his mortgage.

But in private the exclusive bank had compiled a 40-page dossier exploring the ‘significant reputational risks of being associated with him’. 

The report concluded that Farage’s views were ‘at odds with our position as an inclusive organisation.’

The then-NatWest CEO Dame Alison Rose resigned after she admitted she had discussed the details of Farage’s bank account with a BBC journalist.  

She inaccurately told the BBC that Farage’s accounts were closed because they held insufficient funds. 

Dame Alison subsequently apologised to Farage and the bank approached him with an offer for his account to be reinstated. 

The former Coutts CEO Peter Flavel was also forced to step down over the debanking scandal, acknowledging that their treatment of Mr Farage had ‘fallen below the bank’s high standards of personal service’. 

But speaking to Sky News, Farage said he has enlisted lawyers to look into the possibility of a criminal case against the bank, adding: ‘This is unfinished business.’ 

Grosvenor Law, which is already representing him in his civil proceedings against NatWest, has instructed Chris Daw KC of Millennium Chambers in London to examine the grounds on which a private prosecution could proceed. 

NatWest are set to release their annual results this Friday, just weeks before the UK government prepares to offload its last tranche of shares in the company that it acquired during the bank’s bailout in 2008 at the height of the financial crisis. 

Dan Morrison, a partner at Grosvenor Law, said in a separate statement: ‘Mr Farage is concerned about possible criminal issues arising out of the bank’s conduct. 

‘We do not wish to provide further details. We have therefore decided to instruct leading criminal counsel.’

A NatWest Group spokesperson said: ‘We do not comment on individual customers.’

Dame Alison Rose initially tried to cling on to her £5million-a-year post despite  admitting she discussed Farage’s personal banking details.

But she finally fell on her sword in the early hours of June 26 2023 following an extraordinary intervention from the PM and Chancellor, who made clear their ‘significant concerns’. 

Nevertheless, she departed with a significant financial package. 

NatWest disclosed that under her contract, Dame Alison was entitled to a salary, pension and share package worth £2.43million to cover her 12-month notice period. 

Speaking at the time, Farage said: ‘When I heard the news, I thought it was, perhaps, a sick joke.

‘Surely you can’t breach client confidentiality, you can’t break virtually every important rule in the FCA codebook and you can’t then lie about it after you’ve briefed the BBC and still receive a £2.43million payout.’