The money transfer raises the question of whether funds from Nadhmi Auchi, one of Britain’s wealthiest men, helped Mr Obama buy his mock Georgian mansion in Chicago.

A company related to Mr Auchi, who has a conviction for corruption in France, registered the loan to Mr Obama’s bagman Antoin “Tony” Rezko on May 23 2005. Mr Auchi says the loan, through the Panamanian company Fintrade Services SA, was for $3.5 million.