AN associate of Rishi Sunak has had £14 million in assets frozen by the High Court in a civil fraud case.
Akhil Tripathi, a Conservative donor, entered the public spotlight when he paid £38,500 last April for Sunak to fly in a private jet to Wales and Scotland for party conferences.
In recent years, he has gained access to several cabinet ministers, including Sajid Javid and Jeremy Hunt, and has donated over £150,000 to the Conservative Party.
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According to the Financial Times, Sunak wrote Tripathi a handwritten thank you note for use of his plane after the flights – even though the entrepreneur had rented it.
Now, that newspaper reports he is facing civil claims around the health start-up he co-founded, Signifier, which was launched to produce and market an anti-snoring device.
Investors allege Tripathi caused Signifier to purchase goods from another firm he had an interest in, which was invoiced for "items that were not properly payable".
They also say he did not make clear that an early investor in Signifier, who sold their share in the company for $20 million, was actually his sister.
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Tripathi denies the allegations and says he was not asked about the details of his sister's share when it was sold.
Signifier lost $42mn (£33.7mn) on revenue of $3mn (£2.4mn) for the year up to March 31, 2022, the last year for which records are available.
The freezing order comes after a petition by several investors, including a former non-executive director of the firm.
The asset freeze covers a range of assets, including a luxury house in Belgravia, London.
Tripathi will be limited to spending £5000 per week for living expenses.
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