Reform UK candidate founded crypto ‘Ponzi,’ but denies involvement

Nigel Farage’s Reform UK party has denied that one of its candidates has any involvement in the “management, decision making or any financials” of a crypto marketing firm described as a ‘Dubai-based Ponzi scheme’ despite him previously claiming to have founded it.

An investigation by Hope Not Hate (HNH) found that Councillor David White (a.k.a. the Crypto King of Barnsley), appears to hold executive roles at BuddyX alongside co-founder Mahesh Sharma.

Indeed, at a BuddyX conference in Thailand in August 2023, White was introduced as the firm’s co-founder and presented himself as BuddyX’s Head of Business in the UK and EU. In the video, he describes the firm as legitimate while claiming his government position wouldn’t allow him to endorse any scam. 

He said, “It’s incredibly important to myself that everything is as clean as possible. Because believe it or not, UK politicians have to be straight guys — and girls.” He later pointed to the backdrop asking, “Does this look like a scam?” 

White is listed as a BuddyX head of business on its affiliate YouTube channel. Screenshot taken by HNH.

Multi-level marketing (MLM) reporters BehindMLM claim BuddyX and its BDYX token are a ‘pump and dump Dubai Ponzi’ that would ‘inevitably collapse’ when it stops attracting recruits. 

Today, BehindMLM reported that BuddyX’s website was taken down and that its token, BDYX, was listed on a separate exchange trying to avoid detection from US and Canadian authorities.

A Reform UK spokesperson told the Mirror that White was a ‘third-party supplier’ to the firm, “supplying presentation videos and live events.”

The party denied the level of his involvement, claiming “[BuddyX] paid for him to go present in Thailand… He had zero involvement in management, decision making, or any financials.”

Another Nigel Farage associate was accused of owning an illegal crypto ATM.

Read more: Brexit’s top donor outed as Bitfinex, Tether parent shareholder

HNH says it couldn’t verify the ‘viability or legality’ of BuddyX and that White’s role is ‘unclear.’ His LinkedIn states he’s had a freelance role as a business development manager at the firm since April 2023.

White also reportedly failed to disclose his BuddyX role to the council, or on the register of interests, as required by the UK’s government Code of Conduct. 

Protos has contacted Reform UK and White for comment and will update if we hear back.

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