Key Points:

Former Children's Commissioner and National Government minister Roger McClay is the common denominator in parallel political controversies.

Mr McClay is the mysterious third trustee of the Spencer Trust, which has funnelled $234,171 into NZ First since 2005.

It emerged during the hearings by Parliament's privileges committee that he also made the initial approach to expatriate billionaire Owen Glenn, who eventually donated $100,000 to Mr Peters.

That makes Mr McClay a common denominator between the two controversies.

Mr McClay was Mr Peters' senior adviser in 2004 and 2005.

His name first came up when Sir Robert Jones questioned whether a $25,000 donation he made in August 2005 before that year's election ever made it to NZ First.

Sir Robert said Mr McClay was at the drinking session where the donation was solicited and later asked for the cheque to be made out to the Spencer Trust.

Mr Peters' brother Wayne, a Whangarei lawyer, was initially the only trustee known to the public.

Grant Currie, another Whangarei lawyer and long-time colleague of Wayne Peters, revealed himself as another trustee once the Serious Fraud Office used its special powers to examine trust records.

Mr McClay has tried to keep his position as the third trustee secret, refusing to discuss it with the Weekend Herald.

The trust has paid more than $100,000 of NZ First's bills _ expenses the party itself has no record of.

The trust will not say who referred these bills to it to be paid.

Mr McClay's involvement with the Glenn donation was revealed in Mr Glenn's evidence to the privileges committee.

Also in August 2005, Mr McClay arranged for Mr Peters and Mr Glenn to meet in Sydney before a Bledisloe Cup match. Mr McClay followed this up with a letter asking Mr Glenn for money _ which the magnate declined. He eventually gave money that December, after the election.

Mr McClay was a National MP from 1981 to 1996.