MP Johnny Mercer's salary funded by failed bond scheme marketing agent
About 4 Weeks, 4 Hours, 50 Minutes ago.
A company that marketed a failed bond scheme that lost savers £236m has been funding an MP's private salary.
Johnny Mercer receives £85,000 from Crucial Academy, a company ultimately funded by Surge Financial Limited.
Surge Financial Limited took 25% commission for marketing bonds by London Capital and Finance (LCF), which is now in administration.
Mr Mercer - who is facing calls from investors to quit as an MP - said he had done nothing wrong.
The Conservative MP for Plymouth Moor View is a non-executive director of Crucial Academy, which trains military veterans and aims to find them employment.
Mr Mercer, himself a former Army officer, is contracted to work 20 hours per month, a rate of more than £350 per hour.