Richard Tice claimed he has turned down two Tory MPs who wanted to defect to Reform UK.
The businessman declined to give names but said they had been rebuffed in the last 13 months.
His comments come amid speculation over whether Lee Anderson will switch to the rebranded Brexit Party after losing the Tory whip in an Islamophobia row.
Asked on LBC if he would welcome the Ashfield MP into Reform, Mr Tice said: “I’m not giving a running commentary on the issue of discussions about any MP whether it’s Lee Anderson, or others.
“What I will say though, I’ve already turned down two Tory MPs.”
Mr Tice added: “I’m just making the point that you know, there are some people who want to join us that we’ve said thanks but no thanks.”
Mr Anderson was suspended from the Conservative Party on Saturday after refusing to apologise for claiming “Islamists” and “got control” of London Mayor Sadiq Khan.
He did not rule out a dramatic move to Reform UK in an interview on GB News last night.
The former Labour councillor said: “I have been on a political journey and it’s been an incredible journey and I’m incredibly proud to be sat in there and we’ve done some good work since the Conservative Party [came to power], despite what people think.
“But this is a distraction. It’s a distraction that I really didn’t want. But there’s 650 of us in that place over there, and we see what’s going on on Parliament Square every single week now. It’s terrifying.
“And if not one person in that chamber can speak up about what’s going off on our streets, then really we shouldn’t be there.
“I’m making no comment on my future. I shall be sat in the chamber this afternoon on the Conservative benches. There’s no votes today, but there’ll be votes tomorrow and I’ll be voting with the Government.”
Asked if he would be standing for the Conservatives at the next general election, Mr Anderson added: “That’s not up to me, that’s out of my hands at the moment, but I will be standing at the next election.”
Mr Tice had earlier hinted the door would be open to the former Tory deputy chairman after his suspension, saying MPs considering defection “have my number”.
