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I would be very surprised if that £1M was 'new money'.
A common trick in crowd based fund-raising is to have what appears to be a 'serious institutional investor' put down £250k or whatever a large chink of the number is as bait to harvest a load of smaller investors. The big investor is on a deal where they get their money back from the investment round at +10% in 8 weeks. Mad APR if you work it out that way and pretty low-risk when you think about this prick's reach and following and his ability to convince 000's of people to invest £20 based on the optics of some big fish investing £250k.
Some of these new ways of fund-raising are a total racket and at some point they'll be exposed for the fraud they are.
more on that fat tied weirdo running for mayor - hosted by this parish's very own tommy lemmons by all accounts!
https://www.youtube.com/watch?v=DGj8N6s70KU