Nigel Farage's early career in finance included positions at several firms that subsequently faced significant legal issues or collapsed. In 1982, he joined the US investment bank Drexel as a commodities trader. Drexel collapsed eight years later after its senior executive, Michael Milken, was imprisoned and fined for violating securities law.
In 1986, Farage moved to Credit Lyonnais, a French bank that later agreed to pay a $771m settlement for false statements to regulators. He also worked for Refco, a New York-based broker that collapsed after its British chief executive was imprisoned for concealing over $400m of bad debts. Later, in 2003, Farage joined Natixis, which five years later revealed a $600m exposure to Bernie Madoff's Ponzi scheme.
There is no suggestion that Farage was involved in any criminal activity at these firms. However, his current party, Reform UK, is now subject to a police investigation concerning its handling of donations, which could potentially be illegal. Farage and Reform UK deny any wrongdoing.