Investigation: Defence Secretary’s Donations Traced To Think‑Tank Gift Linked To Sam Bankman‑Fried

An investigation by The Telegraph has raised fresh questions about nearly £40,000 in donations accepted by Defence Secretary Wes Streeting that were routed through a short‑lived group called Labour for the Long Term (LLT). US court documents and internal FTX records link a much larger £500,000 payment to LLT founder David Lawrence to Sam Bankman‑Fried, the former cryptocurrency billionaire now serving a 25‑year prison sentence for a multi‑billion‑dollar fraud.

Wes Streeting donation declaration

Key Facts And Timeline

LLT registered the domain labourlongterm.org on 20 June 2022. Court evidence reviewed by The Telegraph includes an FTX internal spreadsheet dated 30 June 2022 that lists a $610,000 entry to David Lawrence and a note referencing "500k GBP." Ten days after the domain registration, the records show a large transfer to Mr Lawrence.

David Lawrence was asked to step back as the parliamentary candidate for Labour in Basingstoke and announced he had done so for 'personal reasons'

LLT made two donations to Wes Streeting: £30,000 on 3 August 2022, intended to fund a part‑time political aide, and a second payment of £7,500 exactly one year later. The payments together total £37,500. LLT declared that it paid the adviser’s salary of £2,500 per month; that adviser, Dr Thomas Gardiner, later became one of Mr Streeting’s senior special advisers in government.

LLT's donations given to Mr Streeting were used to pay for a part-time policy adviser, Dr Thomas Gardiner, a GP

Transparency And Legal Concerns

Questions arise about whether the Streeting donations originated from the £500,000 payment to Mr Lawrence and whether any of that money derived from funds misappropriated at FTX. As an American citizen, Sam Bankman‑Fried was barred under UK law from directly donating to British politicians, but unincorporated associations such as LLT can create reporting gaps because they are not regulated as charities or companies and do not have the same filing obligations.

Political donation evidence

Mr Lawrence has denied that Bankman‑Fried’s money was used to pay Mr Streeting. He told The Telegraph that the Streeting donations were funded by a separate City donor and that he later donated the £500,000 to UK charities. The Electoral Commission register, however, shows the City donor payment was recorded seven months after Mr Lawrence’s gift to Mr Streeting, leaving the sequence of funding unclear.

One of the guiding lights of effective altruism is William MacAskill, an eminent philosophy professor

Political Fallout

Mr Lawrence was selected as Labour’s prospective parliamentary candidate in Basingstoke after the initial payments but stepped back in late 2023 after court documents showing his connection to Bankman‑Fried emerged. Party officials reportedly asked him to provide clear records separating campaign finances from the gift; sources say he could not produce definitive documentation. Mr Lawrence says he stood down for personal reasons amid the stresses of the FTX revelations and the birth of his child.

Bankman-Fried was recommended to Elon Musk when the latter was trying to buy Twitter – now called X – in March 2022 - Reuters

Senior Labour figures were reportedly advised to decline donations from Mr Lawrence and LLT during the run‑up to the 2024 general election; some MPs were offered money and chose not to accept it after receiving party guidance. Mr Lawrence disputes that party staff warned colleagues away from his donations.

Context: Effective Altruism And Longtermism

The payments sit within a wider network of effective altruism and longtermism — movements that prioritise doing the most measurable good and protecting humanity's long‑term future. Mr Lawrence has ties to effective altruist networks: he received a $10,000 grant in 2021 to write a book and has been involved with organisations linked to that movement. William MacAskill, a prominent effective altruism academic, is known to have had a close association with Bankman‑Fried.

What This Means

The trail from an FTX spreadsheet to a UK think‑tank and then to donations that funded a ministerial aide highlights potential weaknesses in transparency rules governing political funding. Some recipients of Bankman‑Fried‑linked donations have returned funds or redirected them to charities; others face renewed scrutiny. It remains unclear whether Mr Streeting will be asked to repay the LLT donations or whether further investigation will establish a direct link to funds misappropriated at FTX.

LLT Mission (At Launch): "The decisions we make in the coming years will affect humanity for generations to come. We want to help Labour develop policies that ensure a resilient and prosperous future."

The story continues to develop as court records, Electoral Commission filings and party inquiries are examined. The case underlines the importance of clear donor records and stronger safeguards to prevent foreign or illicit funds reaching UK political activity.