Self-described social business entrepreneur Phillip Ullmann said he gave the Conservative leadership candidate the gift via Spott Fitness, which is a part of his family’s business empire.
Over the weekend, concerns were expressed regarding the source of the donation, given that the fitness coaching app company’s most recent financial records indicate it has over £300,000 in debt, no employees, and has never turned a profit.
As Tortoise Media first reported, the company recorded a loan from Centrovalli, a corporation registered in the British Virgin Islands, in January.
British law specifies corporations that donate to political parties or candidates must be UK-based and conduct out business in the UK.
As he has done for many other politicians, Mr. Ullmann has now acknowledged that he was the driving force behind the Spott Fitness donation, but he has not disclosed why he did not make a personal contribution.
On Sunday, Mr. Jenrick stood up for the Spott Fitness payment, stating that he knew it was “perfectly legal and valid,” but he would not identify it as coming from Mr. Ullmann. Instead, he said he has “obviously met people who are involved in the company” and that it will be recorded “on Companies House in the normal way.”
