Ex-UK lawmaker charged over insider betting scandal linked to Sunak election announcement
Craig Williams was one of several people investigated for cashing in on insider knowledge on date then-PM Rishi Sunak would call election
A former Conservative lawmaker and 14 others have been charged with cheating when placing bets on the timing of Britain’s general election last year, the Gambling Commission said on Monday.
Craig Williams was one of several people who had been investigated for cashing in on insider knowledge on the date then-Prime Minister Rishi Sunak would call the election.
Other members of the Conservative Party that controlled government at the time and a police officer were among those facing charges that carry a potential two-year prison term, if convicted.
It’s legal for politicians to wager on elections, but the investigation was about whether they used inside information to gain an unfair advantage. One of the popular bets at the time was to wager on the date the prime minister would call an election.
At the time, the conventional wisdom was that Sunak would call an election in the autumn, but he surprised people in May when he set the election date for July 4th.
The announcement was a disaster as Sunak was drenched in pouring rain outside his residence and word quickly spread that a handful of people with connections to the party had placed suspiciously timed bets.
