Former adviser to Nigel Farage who had four

Even in the nerve-shredding world of high stakes poker, it is an enormous amount of money to lose.

The gambling world was last night swirling with claims that George Cottrell, a former top adviser to Nigel Farage, lost a staggering £16 million in a private high-stakes poker game in Montenegro last week.

The aristocratic banker, an ex-boyfriend of I'm A Celebrity winner Georgia Toffolo, is believed to have been playing against Chinese billionaires, Hollywood celebrities and some of the world's best high roller poker stars when he gambled away the vast sum over one single night.

Ahead of the showdown, one British poker player posted on social media that the game was 'way too big for me', explaining that it would cost nearly £160,000 just to see the first three community cards dealt, known as the flop.

Cottrell, 30, who spent eight months in an American jail for wire fraud after being arrested in 2016, was said to be still 'enjoying himself' in the early hours of last Thursday morning when his luck finally ran out.

The gambling world was last night swirling with claims that George Cottrell, a former top adviser to Nigel Farage, lost a staggering £16 million in a private high-stakes poker game in Montenegro last week. Pictured: Mr Cottrell at a 'Leave Means Leave' campaign event in September 2018 in Bolton

The aristocratic banker, an ex-boyfriend of I'm A Celebrity winner Georgia Toffolo (pictured in November 2022), is believed to have been playing against Chinese billionaires, Hollywood celebrities and some of the world's best high roller poker stars when he gambled away the vast sum over one single night

The so-called Triton Poker Series, a high stakes tournament for elite players, is currently taking place in the five-star Maestral Casino in Budva (pictured), watched by thousands online via a live video stream

Nigel Farage joins pro-Brexit activists from Leave Means Leave in March 2019, with Mr Cottrell on his right

Model Andjela Vukadinovic (pictured), 22, holidayed with Cottrell last summer in the south of France having won the beauty pageant earlier that year

The so-called Triton Poker Series, a high stakes tournament for elite players, is currently taking place in the five-star Maestral Casino in Budva, watched by thousands online via a live video stream. Sources claim Cottrell's heavy losses happened in a private VIP room.

Last night one poker source told the MoS: 'Despite George losing so much money, he appeared to be enjoying himself and didn't step away from the table until 7am. By that point he was $20 million [£15.7 million] down.'

Cottrell, formerly Mr Farage's chief of staff, was last night unavailable for comment.

Raised and educated on the private island of Mustique in the Caribbean before attending the prestigious boarding school Malvern College in Worcestershire, Cottrell worked at banks including JP Morgan and Credit Suisse before moving on to politics.

George Cottrell attends the Leave EU Brexit Anniversary Party held by businessman Arron Banks in 2017

Former UKIP leader now Honorary president of Reform UK Nigel Farage was seen enjoying a spot of lunch with his former senior advisor George Cottrell at the plush Scott's Restaurant in London in April 2024

George Cottrell and Georgia Toffolo enjoy drinks al fresco with a couple of friends in West London in September 2021

George Cotterell chats with Georgia Toffolo and Richard Tice in May 2023

He played a key role during the Brexit campaign working as a treasurer for Ukip. But just weeks after the Brexit vote, the financier, known as 'posh George', was arrested in the US after being caught offering money laundering services to undercover federal agents.

He was initially charged with 21 felonies but prosecutors later agreed to drop all but one count of wire fraud, which he pleaded guilty to. He was released after serving eight months in jail.

Since then he has enjoyed a four-year, on-off relationship with Made In Chelsea star and I'm A Celeb winner Georgia Toffolo, 29, before dating a Miss Montenegro winner. Model Andjela Vukadinovic, 22, holidayed with Cottrell last summer in the south of France having won the beauty pageant earlier that year.

Sources say Cottrell's disastrous performance at poker last week is likely to now see him regarded by his peers as the ultimate 'whale' – an extremely wealthy player who is known for taking significant risks but who can be seen as 'easy money' for more skilled players.