Tory candidate for London Mayor Shaun Bailey has been forced to return a donation from a millionaire American private healthcare investor.
Bailey returned the £1,250 donation from Louis Elson in September last year when he was identified as an “impermissible donor”.
Elson founded Palamon, a private equity firm which is registered in Delaware, a notorious tax haven. The business is also part-owned by Appleby Trust (Jersey) Ltd, a branch of the offshore law firm at the centre of the Paradise Papers investigation into tax havens.
Palamon’s website boasts of its investments in private healthcare, including primary care providers, social care providers and private dentistry clinics.
Under Electoral Commission rules, a donation can be ruled impermissible if it is not from an individual register on a UK electoral register or if it is not from an organisation register in the UK. Impermissible donations must be returned with 30 days of being received.
There is no suggestion of wrong doing on the part of Shaun Bailey.
A spokesperson for Shaun Bailey’s campaign said, “As much as any campaign wishes it had the ability to reject impermissible unsolicited donations before they are donated, we must sadly rely on after the fact checks to conduct due diligence and then reject donations that are impermissible, as was done here.”