Australian millionaire named as Tory lender
Sunday, 26 Mar 2006 15:30
Australian millionaire named as Tory lender
The Conservatives have confirmed that Australian hedge fund millionaire Michael Hintze loaned the party an undisclosed sum before the last general election.
Tory leader David Cameron is now being urged to reveal the names of the other lenders who contributed to the £20m raised last year.
Mr Hintze, 52, who lives in south London with his family, loaned the money to the Tories through trading company Morain Investments.
In a statement, the former Australian army officer said: "My support for the Conservative Party is something I am immensely proud of and I am pleased to be able to help.
"I have supported the Conservative Party because I can, and the law allows me to do so. I truly believe this country needs a strong opposition."
Mr Hintze, who founded the hedge fund CQS, is worth an estimated £150 million and has given millions to British charities.
Only a select few people within the Conservatives knew Mr Hintze's identity, according to the Sunday Telegraph. These included Francis Maude, the party chairman, and treasurer Jonathan Marland.
Mr Hintze's decision to come forward puts pressure on Mr Cameron to reveal who the other lenders are. Environment secretary Margaret Beckett has written to him demanding that he publish the full list of financial backers.
Labour revealed the names of the12 people who had loaned the party £13.95m as it emerged that four of them had been nominated for peerages.
