Transputec boss Rickie Sehgal has spoken of his embarrassment after falling victim to a Mail on Sunday sting in which an undercover reporter posed as a businessman seeking access to senior Conservative party politicians, including PM David Cameron.
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According to the Mail, Sehgal claimed that a £10,000 donation could buy the Prime Minister's mobile phone number.
Subsequently, Sehgal has said that this claim was exaggerated, and refuted the idea that such information can be bought, saying he was "highly embarrassed."
Sehgal, who besides his extensive channel work is chairman of the British Asian Conservative Link, an organisation designed to foster greater participation in the Conservative party among Asians in the UK, has resigned from the party as a result.
Last year channel investor and party donor Jon Moulton spoke of his anger after disgraced ex-cabinet minister Liam Fox mislead him over the nature of a donation, which it turned out was used to fund the activities of his associate, Adam Werrity.