FX Brokerage Implosion Ties Up Millions Owed to Farage Backer

Christopher Harborne, a little-known mogul who’s one of the biggest backers of Nigel Farage’s political ascent in the UK, seemed to have landed a bargain.

Harborne’s IFX (UK) Ltd. agreed to buy currency brokerage Argentex Group Plc in mid-April, rescuing a rival on the verge of collapse after a slump in the dollar triggered by US President Donald Trump’s tariff war. The businessman – who paid for Reform UK leader Farage to attend Trump’s inauguration – appeared to have picked up a competitor for a fraction of its historic value.

Within months, though, Argentex had imploded under ...