Shapps resigns from tech firm role he claimed was ‘unpaid’

GRANT SHAPPS, the former Conservative party chairman, has resigned from two appointments after it emerged he stood to gain financially through the success of a technology company.

Mr Shapps had been due to receive hundreds of thousands of pounds worth of cryptocurrency tokens as part of a role advising Openbrix after the business made its initial coin offering.

However, he resigned his role as an adviser on governance after questions were raised about his links to promoting the business, which was set to hold an event in the Houses of Parliament.

In the register of member’s interests, Mr Shapps listed his role with the company as “unpaid”. But he was due to make thousands of pounds in tokens after the company officially launched. Experts said the MP would have been due at least £170,000 after receiving his tokens – and probably more.

When approached by The Financial Times for comment, Mr Shapps stood down as co-chairman of the All Party Parliamentary Group on Blockchain, which he set up last year, saying: “I don’t want to overstretch myself.”

Shahad Choudhury, the founder and chief executive of Openbrix, told The FT he could not understand why Mr Shapps had decided to resign.

He said: “I got a call from Grant [Shapps] today who has resigned and relinquished any tokens that he could have got. He told our lawyer Martin [Donoghue], and Martin said I’m no longer to speak to you [The FT].”

Mr Shapps has been in trouble before when he continued working for a marketing business under the name of Michael Green for at least a year, despite becoming an MP in 2005.

MPS are allowed to undertake other paid work but they must declare their interests in a register to ensure they do not lobby for them while in the Houses of Parliament.