Knowledge (XXG)

Peter Cruddas, Baron Cruddas

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had secretly filmed Cruddas allegedly discussing what level of access different size donations led to: "£200,000 to £250,000 is Premier League – things will open up for you – you can ask him practically any question you want." Cruddas resigned the same day.
411:, and after becoming a member of the Chairman's Circle, in March 2012 was invited to become a Trustee and join the Board of the Royal Opera House though as of May 2023 he is no longer listed as either trustee or a board member. 475:, a lobbyist who is David Cameron's former aide. The undercover reporters posed as overseas financiers and claimed that their clients intended to buy distressed government assets and wanted to make political connections. 810: 517: 556:
advised that it could not support his nomination. Johnson nonetheless decided that the appointment should proceed, becoming the first ever prime minister to overrule an advice of the commission.
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over its coverage of him, which the High Court found had been defamatory. However, in March 2015, an appeal court reduced the libel damages from the original £180,000 to £50,000, ruling that the
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story – that Cruddas had offered "cash for access" to potential donors – was supported by the evidence, while they also ruled that a series of accompanying allegations made in the same
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articles had been defamatory. He was awarded £180,000 in damages on 31 July. However, in March 2015, all three judges of an appeal court ruled that the central allegation of the
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programme he stated that he had donated over £1,000,000. He donated £100,000 in the last quarter of 2010 and £50,000 in the first week of the 2010 general election campaign.
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with £10,000 in the bank. In 2011 CMC Markets was valued at between £750 million and £1.2 billion but by August 2023 CMC had fallen in value to £300m.
1203: 1548: 952: 1698: 1693: 532:, a pro-Johnson pressure group in the Conservative Party founded in December 2022, with a stated aim to make the party "representative of the membership". 452: 302:
s central allegation around "cash for access" had been borne out by the facts, while also ruling that a series of subsidiary allegations made in the same
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named Cruddas the 38th most powerful right-wing British political figure of 2023 for his financial ability to shape the Conservative Party's future.
1042: 341:, the boys initially lived on the Bracklyn Court Estate, before moving to Vince Court when the twins were six. Cruddas states his membership of the 133: 1688: 1333: 981: 1663: 1497: 553: 322: 1648: 545: 529: 1658: 670: 90: 528:
leading to his resignation had been "anti-democratic to the party and to the electorate". Cruddas is the founder and president of the
439: 128: 1120: 923: 1668: 568: 1471: 1277: 338: 198: 149: 589: 1683: 1673: 137: 420: 397: 270: 52: 37: 894: 697: 162: 1177: 1599: 1653: 435: 337:, Cruddas has an elder brother John and a twin brother Stephen, both of whom became taxi drivers. Born in the 1302: 431:
reported that on 5 February 2021, a week after he received a peerage, Cruddas' donations topped £3 million.
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He left Shoreditch Comprehensive with no qualifications, aged 15, and gained a job as a telex operator for
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for libel over its coverage of him. In June 2013, the High Court ruled in his favour and found that
603:. In an interview in early 2011 he stated that he had: "A £10m apartment in Monaco, a £5m house in 600: 1523: 287:, in exchange for cash donations of between £100,000 and £250,000. Cruddas resigned the same day. 1434: 1098: 1230:"Lord Ashcroft: Should the Conservative Party learn lessons from the treament of Peter Cruddas?" 1128: 592:, an annual event for men only, where many hostesses were groped, propositioned and harassed. 404: 334: 1009: 674: 1429: 599:
for a period until March 2009, commuting daily from an apartment on Avenue des Spélugues to
479: 447: 408: 363: 275: 1068: 805: 626: 438:, effectively the party's chief fund raiser, in succession to billionaire property tycoon 1303:"'Boris bus' to picket Tory leadership hustings calling for members' vote on PM's future" 345:
as the reason for his early success, who taught him self-discipline and self-confidence:
638: 472: 460: 367: 284: 259: 1632: 864: 604: 573: 564: 549: 521: 510: 456: 359: 318: 280: 111: 56: 1620: 1357:"Priti Patel Backs New Tory 'Democracy' Movement In Fresh Headache For Rishi Sunak" 620: 310: 121: 1251: 982:"Sunday Times libel damages to Peter Cruddas reduced on appeal from £180k to £50k" 835: 1403: 1320: 1152:"Sarah Southern: The Young Conservative who 'sold' access to the Prime Minister" 895:"Tory co-treasurer Peter Cruddas resigns over cash for access to prime minister" 756: 386: 325:, which unanimously recommended that the Prime Minister rescind his nomination. 251: 266:
estimated his wealth at $ 1.3 billion, equivalent to £830 million at the time.
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Cruddas has four children, two from each marriage. His second wife is Fiona.
524:, Cruddas led a campaign to include Johnson as a candidate, stating that the 434:
Cruddas was appointed Conservative Party co-treasurer in June 2011 alongside
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In total, it is believed that Cruddas has donated over £3,000,000 to the
1204:"How David Cameron predicted the lobbying scandal which now engulfs him" 1455: 1121:"New Tory sleaze row as donors who pay £3m get seats in House of Lords" 1035:"New Tory sleaze row as donors who pay £3m get seats in House of Lords" 634: 608: 498:
article were still false and defamatory. Accordingly, they reduced the
1498:"Brexit backer Peter Cruddas to sell £200m-plus of CMC Markets shares" 800:"'Very polished' rough diamond Peter Cruddas joins Tory treasury team" 726:"'Very polished' rough diamond Peter Cruddas joins Tory treasury team" 1459:. Vol. 810. United Kingdom: House of Lords. col. 1918–1919. 924:"Former Tory co-treasurer Peter Cruddas wins Sunday Times libel case" 596: 378: 263: 247: 953:"Appeal court reduces damages award against Sunday Times to £50,000" 362:
in the City of London. After being made redundant, he worked in the
262:, with an estimated fortune of £860 million. As of March 2012, 1178:"Cash for access: Sarah Southern claims to be political consultant" 1581: 295: 625:
In 2016, Cruddas and his wife Fiona paid £42 million in cash for
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trading rooms of various banks, including the Bank of Iran and
1404:"Peter Cruddas: PM overrules watchdog with Tory donor peerage" 563:, of Shoreditch in the London Borough of Hackney. He made his 385:. He left the same year to set up his own business, starting 250:
and businessman. He is the founder of online trading company
1278:"CMC tycoon Cruddas hands £50,000 to Johnson leadership bid" 836:"Tory Peter Cruddas sold access to PM, Sunday Times alleges" 309:
In December 2020, it was announced he would be conferred a
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co-treasurer in June 2011. In March 2012 it was alleged by
1549:"Top Brexit campaigner pays cash for £42m Mayfair mansion" 471:
The undercover journalists were introduced to Cruddas by
1252:"Ex-Tory treasurer Cruddas wins £180,000 libel damages" 588:
He is reported to have been a regular attendee of the
865:"Conservatives Deny Sunday Times 'Cash For Access'" 229: 221: 213: 205: 178: 173: 156: 143: 127: 117: 107: 89: 51: 23: 888: 886: 798: 724: 279:that he had offered access to the Prime Minister 637:, formerly owned by the Iranian-born art dealer 673:. Hackney Council. 15 June 2010. Archived from 665: 663: 661: 659: 657: 655: 653: 392:Cruddas is the largest individual donor to the 347: 946: 944: 396:International Association, and has donated to 859: 857: 830: 828: 792: 790: 788: 786: 784: 782: 780: 778: 8: 1093: 1091: 1089: 975: 973: 698:"PM's fundraiser quits over cash for access" 629:, a seven-storey Victorian mansion close to 917: 915: 377:dealer at the City of London branch of the 1591:Orders of precedence in the United Kingdom 1586: 36: 20: 871:. British Sky Broadcasting. 24 March 2012 509:reported that Cruddas donated £50,000 to 306:article were still false and defamatory. 502:libel damages from £180,000 to £50,000. 290:In June 2013, Cruddas successfully sued 1062: 1060: 649: 611:, a yacht and a private jet." He plays 246:(born 30 September 1953) is an English 1472:"The New Statesman's right power list" 554:House of Lords Appointments Commission 323:House of Lords Appointments Commission 258:, he was named the richest man in the 1522:Marriage, Madison (23 January 2018). 1004: 1002: 540:In 2020, Cruddas was nominated for a 482:blog reported that Cruddas was suing 321:, despite the contrary advice of the 7: 1470:Statesman, New (27 September 2023). 1383:Conservative Democratic Organisation 567:on 12 March 2021 in response to the 530:Conservative Democratic Organisation 103:6 June 2011 – 24 March 2012 1355:Sleigh, Sophia (11 December 2022). 980:Ponsford, Dominic (17 March 2015). 244:Peter Andrew Cruddas, Baron Cruddas 91:Treasurer of the Conservative Party 1699:Life peers created by Elizabeth II 1694:Conservative Party (UK) life peers 1496:Hellier, David (13 January 2016). 1176:Davies, Caroline (26 March 2012). 1127:. The Sunday Times. Archived from 1067:Teather, David (12 January 2007). 696:Rigby, Elizabeth (25 March 2012). 559:On 27 January 2021 he was created 513:Conservative leadership campaign. 333:The son of a father who worked at 14: 1679:Conservative Party (UK) officials 951:Greenslade, Roy (17 March 2015). 1438:. 1 February 2021. p. 1686. 1069:"Interview : Peter Cruddas" 893:Boffey, Daniel (25 March 2012). 813:from the original on 25 May 2022 737:from the original on 25 May 2022 671:"Hackney People - Peter Cruddas" 641:, who lived there for 22 years. 518:Conservative leadership election 445:In March 2012 it was alleged by 1456:Parliamentary Debates (Hansard) 1332:Hazell, Will (2 January 2023). 520:, following the resignation of 423:. On 31 July 2013 on the BBC's 339:Metropolitan Borough of Hackney 1689:Conservative Party (UK) donors 1449:Lord Cruddas (12 March 2021). 1202:Hughes, Mark (26 March 2012). 1150:Hughes, Mark (26 March 2012). 1101:. Financial-Spread-Betting.com 922:Halliday, Josh (5 June 2013). 713:, The Independent, 8 June 2011 615:with a low handicap, composes 590:Presidents Club Charity Dinner 526:governmental mass resignations 373:By 1989, Cruddas was the head 16:English banker and businessman 1: 1664:English expatriates in Monaco 723:McSmith, Andy (8 June 2011). 1600:The Lord McDonald of Salford 797:Andy McSmith (8 June 2011). 398:Great Ormond Street Hospital 53:Member of the House of Lords 1649:People from Hackney Central 134:The Lord Feldman of Elstree 1715: 1659:Businesspeople from London 1617: 1604: 1596: 1589: 1010:"Political Peerages 2020" 237: 169: 96: 73: 62: 47: 35: 1577:Peter Cruddas Foundation 595:Cruddas was resident in 225:Shoreditch Comprehensive 217:4 (2 from each marriage) 1669:English philanthropists 394:Duke of Edinburgh Award 42:Official portrait, 2021 1359:. Huffington Post (UK) 455:to the Prime Minister 403:Cruddas supported the 351: 269:Cruddas was appointed 256:Sunday Times Rich List 233:Banker and businessman 459:, and the Chancellor 1684:British Eurosceptics 1674:British billionaires 842:. BBC. 24 March 2012 451:that he had offered 183:Peter Andrew Cruddas 26:The Right Honourable 1258:. BBC. 31 July 2013 601:London City Airport 283:and the Chancellor 1451:"Budget Statement" 1435:The London Gazette 1410:. 22 December 2020 1232:. ConservativeHome 1131:on 7 November 2021 1045:on 7 November 2021 478:In July 2012, the 421:Conservative Party 317:by Prime Minister 271:Conservative Party 150:Richard Harrington 138:The Baroness Warsi 1627: 1626: 1336:. Daily Telegraph 405:Royal Opera House 335:Smithfield Market 241: 240: 193:30 September 1953 1706: 1618:Followed by 1597:Preceded by 1587: 1565: 1564: 1562: 1560: 1545: 1539: 1538: 1536: 1534: 1519: 1513: 1512: 1510: 1508: 1493: 1487: 1486: 1484: 1482: 1467: 1461: 1460: 1446: 1440: 1439: 1426: 1420: 1419: 1417: 1415: 1400: 1394: 1393: 1391: 1389: 1375: 1369: 1368: 1366: 1364: 1352: 1346: 1345: 1343: 1341: 1329: 1323: 1318: 1316: 1314: 1299: 1293: 1292: 1290: 1288: 1274: 1268: 1267: 1265: 1263: 1248: 1242: 1241: 1239: 1237: 1228:Ashcroft, Lord. 1225: 1219: 1218: 1216: 1214: 1199: 1193: 1192: 1190: 1188: 1173: 1167: 1166: 1164: 1162: 1147: 1141: 1140: 1138: 1136: 1117: 1111: 1110: 1108: 1106: 1095: 1084: 1083: 1081: 1079: 1064: 1055: 1054: 1052: 1050: 1041:. Archived from 1031: 1025: 1024: 1022: 1020: 1006: 997: 996: 994: 992: 977: 968: 967: 965: 963: 948: 939: 938: 936: 934: 919: 910: 909: 907: 905: 890: 881: 880: 878: 876: 861: 852: 851: 849: 847: 832: 823: 822: 820: 818: 802: 794: 773: 772: 770: 768: 753: 747: 746: 744: 742: 728: 720: 714: 712: 710: 708: 693: 687: 686: 684: 682: 677:on 24 April 2012 667: 569:budget statement 488:The Sunday Times 484:The Sunday Times 480:ConservativeHome 465:The Sunday Times 448:The Sunday Times 429:The Sunday Times 409:The Royal Ballet 375:foreign exchange 364:foreign currency 292:The Sunday Times 276:The Sunday Times 196: 192: 190: 174:Personal details 159: 146: 101: 78: 40: 30:The Lord Cruddas 21: 1714: 1713: 1709: 1708: 1707: 1705: 1704: 1703: 1654:English bankers 1629: 1628: 1623: 1621:The Lord Kamall 1610: 1602: 1573: 1568: 1558: 1556: 1547: 1546: 1542: 1532: 1530: 1528:Financial Times 1521: 1520: 1516: 1506: 1504: 1495: 1494: 1490: 1480: 1478: 1469: 1468: 1464: 1448: 1447: 1443: 1428: 1427: 1423: 1413: 1411: 1402: 1401: 1397: 1387: 1385: 1377: 1376: 1372: 1362: 1360: 1354: 1353: 1349: 1339: 1337: 1331: 1330: 1326: 1312: 1310: 1301: 1300: 1296: 1286: 1284: 1276: 1275: 1271: 1261: 1259: 1250: 1249: 1245: 1235: 1233: 1227: 1226: 1222: 1212: 1210: 1208:Daily Telegraph 1201: 1200: 1196: 1186: 1184: 1175: 1174: 1170: 1160: 1158: 1156:Daily Telegraph 1149: 1148: 1144: 1134: 1132: 1125:thetimes.co.uk/ 1119: 1118: 1114: 1104: 1102: 1099:"Peter Cruddas" 1097: 1096: 1087: 1077: 1075: 1066: 1065: 1058: 1048: 1046: 1033: 1032: 1028: 1018: 1016: 1008: 1007: 1000: 990: 988: 979: 978: 971: 961: 959: 950: 949: 942: 932: 930: 921: 920: 913: 903: 901: 892: 891: 884: 874: 872: 863: 862: 855: 845: 843: 834: 833: 826: 816: 814: 806:The Independent 796: 795: 776: 766: 764: 757:"Peter Cruddas" 755: 754: 750: 740: 738: 731:The Independent 722: 721: 717: 706: 704: 702:Financial Times 695: 694: 690: 680: 678: 669: 668: 651: 647: 619:, and supports 583: 538: 511:Boris Johnson's 417: 356: 331: 197: 194: 188: 186: 185: 184: 157: 144: 136: 102: 97: 82: 81:2 February 2021 80: 74: 69: 55: 43: 31: 28: 17: 12: 11: 5: 1712: 1710: 1702: 1701: 1696: 1691: 1686: 1681: 1676: 1671: 1666: 1661: 1656: 1651: 1646: 1641: 1631: 1630: 1625: 1624: 1619: 1616: 1603: 1598: 1594: 1593: 1585: 1584: 1579: 1572: 1571:External links 1569: 1567: 1566: 1553:standard.co.uk 1540: 1514: 1488: 1462: 1441: 1421: 1395: 1370: 1347: 1324: 1309:. 22 July 2022 1294: 1269: 1243: 1220: 1194: 1168: 1142: 1112: 1085: 1056: 1026: 998: 969: 940: 911: 882: 853: 824: 774: 748: 715: 688: 648: 646: 643: 639:Nasser Khalili 582: 579: 546:prime minister 537: 536:House of Lords 534: 505:In June 2019, 492:Sunday Times's 473:Sarah Southern 461:George Osborne 416: 413: 368:Marine Midland 355: 352: 330: 327: 285:George Osborne 260:City of London 254:. 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Index

The Right Honourable

Member of the House of Lords
Lord Temporal
Incumbent
Life Peerage
Treasurer of the Conservative Party
David Cameron
Mike Chattey
Chairman
The Lord Feldman of Elstree
The Baroness Warsi
Richard Harrington
James Lupton
Hackney
banker
CMC Markets
Sunday Times Rich List
City of London
Forbes
Conservative Party
The Sunday Times
David Cameron
George Osborne
libel
life peerage
nomination
Boris Johnson
House of Lords Appointments Commission
Smithfield Market

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