Clegg defends Lib Dems over donor’s conviction

LIBERAL DEMOCRATS leader Nick Clegg last night insisted his party had done nothing wrong in accepting a record £2.4 million (about €3m) donation from bogus bonds dealer Michael Brown.

The 42-year-old crook, who was convicted of theft and other charges yesterday after going on the run, got the cash — which ended up in the party’s 2005 election war chest — after “tricking” an international line-up of wealthy clients with promises of massive returns.

Altogether, they gave him £36m, nearly £8m of which belonged to former Manchester United chairman Martin Edwards. London’s Southwark Crown Court heard much of his ill-gotten gains were squandered on a life of fast cars, a jet and no-expense spared holidays.

But he stood trial only in connection with the former football chief’s losses. After the verdicts Clegg said “everyone recognised” the fact his party accepted the £2.4m donation “in good faith”.

Brown, now one of Britain’s most wanted men, was found guilty of two counts of theft, one of furnishing false information and one of perverting the course of justice between February 9, 2005, and April 17, 2006. But Judge James Wadsworth said he was not prepared to pass sentence until the fugitive had been arrested.

After delivering their verdicts, jurors heard Brown’s disappearance in July was the second time he had fled justice. The first occasion three years ago was to escape a perjury case arising out of concerns by the HSBC bank about the way he was managing multi-million pound investments.

The court heard the crook’s lies included pretending his father was a lord and promising investors staggering returns of up to 50%.

They little realised they were entrusting their money to someone who had not even passed his maths O-level — about the same level as Junior Certificate. Jurors were told his apparent political largesse was simply part of a carefully crafted “illusion of wealth and influence” designed to give him the social acceptability he craved.