Venture capitalist and channel investor Jon Moulton, who rescued failing networking integrator Calyx in 2010, has distanced himself from the growing scandal surrounding ousted defence secretary Liam Fox and his associate Adam Werrity after it emerged that he funded Pargav, the firm at the heart of a potential fraud investigation, to the tune of £35,000.
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Moulton's investment in Pargav, which according to the Guardian was set up to fund Werrity's extravagant lifestyle, was solicited by Fox last autumn after Moulton's VC venture, Better Capital, acquired military components firm Gardner.
In a statement to the FT, Moulton, who is a long-term above board donor to the Conservatives, said he had been approached by Fox to help fund Pargav, and although he sought and received assurances as to its activities it appears he was not made properly aware of its purpose.
He added that neither he nor any associates had not sought or received any benefit from the investment, or any account of Pargav's activities. "I will not be doing this again," he added.
As a result of the fall-out from Werrity's activities the Lib Dems may now look to introduce a register of political lobbyists.