A millionaire businessman whose company gave the Lib Dems more than £2m is facing a possible jail sentence after pleading guilty to two charges.
Appearing at Southwark Crown Court, Michael Brown, 40, admitted committing perjury and making a false declaration to obtain a passport.
Brown also faces other fraud charges involving the HSBC bank.
Judge Geoffrey Rivlin QC suggested a jail sentence would be appropriate when Brown is sentenced on 25 September.
Brown, who was based in Spain, became the Lib Dems' biggest donor before the election but there is no suggestion the court case has anything to do with the party.
The businessman was arrested in Madrid in May by officers of the City of London Police economic crime department helped by the Spanish authorities.
He has been remanded in custody.
He pleaded guilty on Thursday to making a false statement to the Passport Office last November, when he claimed that he had lost his previous passport in a washing machine.
He also pleaded guilty to making a false statement in the High Court last year.
This was in an ongoing case brought by HSBC bank, and related to trading activity he falsely said he had undertaken.
