Conservative leader Kemi Badenoch has vowed to “put forward a serious candidate” to run in a coastal by-election if a standards investigation leads to another one.

Voters in Clacton in Essex are due to go to the polls on Thursday after Nigel Farage stood down as an MP, triggering a by-election that he will stand in.

Reform UK’s leader will be one of 34 candidates on the lengthy ballot paper, although Labour, the Conservatives, Liberal Democrats and Greens are not putting up candidates, claiming the resignation is a stunt with no bearing on the inquiry.

In a letter “to the people of Clacton”, Badenoch wrote: “Nigel Farage has called this by-election not to help you, but to help himself.”

Farage was being investigated by the parliamentary standards commissioner Daniel Greenberg over a £5m gift from cryptocurrency tycoon Christopher Harborne, which he received before taking his seat in the House of Commons.

The investigation was looking into whether he should have declared the money when he arrived in Parliament.

But it was suspended on his resignation and is likely to resume if he wins the by-election, which he is billing as a public vote on the issue of his honesty.

If he is found to have broken the rules and a suspension of more than 10 days is imposed, it could trigger a recall petition and the prospect of Farage losing his seat, forcing another public vote.

Badenoch wrote: “Mr Farage wants the people of Clacton to settle his problems for him.

“He wants to point to you and say, ‘even after the £5m scandal, Clacton still chose me’.

“The people of Clacton are entitled to ask why someone would donate Nigel Farage that kind of money”.

The Reform leader has said the money was an “unconditional gift”.

Farage previously said the money was for his security, given to him “with the knowledge that the state in this country has never, ever wanted to help” with his personal protection.

Badenoch, who is the North West Essex MP, continued: “When the proper process has run its course and there is a genuine contest, we will be there.

“I will put forward a serious candidate who understands that representing Clacton is a job — someone who turns up, listens, holds meetings and works for the people who live here.

“When the real choice comes, the Conservatives will be there and I hope we can earn your support.”

Farage’s opponents in Clacton include Count Binface, actor-turned-politician Laurence Fox, and three candidates from the Official Monster Raving Loony Party – Nick The Incredible Flying Brick, its leader Alan “Howling Laud” Hope and Baron Von Thunderclap.

A spokesperson for Reform UK said: “If Kemi Badenoch and the Conservatives truly had any respect for democracy they would have stood a candidate in this by-election.

“The truth is that the Tories have turned their backs on the people of Clacton by refusing to put up a candidate. It’s the latest in a long list of betrayals.

“Voters here have the chance to send a resounding message to the Tories and the rest of the failing political establishment by voting for Nigel Farage and Reform next Thursday.”

The constituency includes the towns of Clacton-on-Sea, Frinton-on-Sea and Walton-on-the-Naze, as well as villages stretching inland to Frating, Tendring, Wix and Little Oakley.

A full list of the 34 candidates is available here.

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