Moran gave Tories pounds 5,000

THE Conservative Party, currently reeling from allegations of sleaze, accepted a donation of pounds 5,000 from the disgraced Lloyd's underwriter Christopher Moran, a man with a history of corporate malpractice.

Mr Moran was expelled from Lloyd's in 1982 for discreditable conduct, and in 1986 was censured by the Stock Exchange for his role in the transfer of shares in a quoted PR company, Good Relations.

In 1992 he was ordered by a New York Court to pay a dollars 2m fine after the Securities Exchange Commission declared him guilty of insider dealing, a verdict he has refused to accept.

Chesterlodge, the holding company for Mr Moran's interests in the UK, made the donation in 1987. The payment is revealed in the the company's accounts, which state: 'During the year the group contributed pounds 5,000 for political purposes to the Conservative Party.'

Chesterlodge is an investment vehicle that deals in shares, insurance, reinsurance broking and property.

It made a smaller political donation in 1986.

Mr Moran was the sole director of the company in the year that the contribution of pounds 5,000 was made. He also held all of the company's issued share capital.

A colourful character, Mr Moran claims close associations with the Tory party. He is known for his grand entertaining and has an estate in Scotland, where he shoots. In 1988 he bought Crosby Hall on the Chelsea Embankment and has applied to redevelop the site.

He recently claimed that he was worth pounds 200m and had no borrowings or deferred taxation.