Leave.EU boss Arron Banks cleared after probe into Brexit referendum campaign loans
2 min read
Leave.EU founder Arron Banks has been cleared after a probe into his funding of the pro-Brexit movement found “no evidence” of criminality.
The National Crime Agency (NCA) opened an investigation into the insurance tycoon in November 2018 over concerns he was "not the true source" of £8m-worth of loans.
Mr Banks, along with Leave.EU chief executive Liz Bilney and the Better for the Country campaign, was referred to the body by the Electoral Commission.
The watchdogs said Mr Banks and Ms Bliney had given "unsatisfactory explanations" about the financial transactions to Better for the Country.
But the NCA said in a statement that it would not take any further action against any of those involved.
"In carrying out its complex investigation the NCA analysed information, including banking information, which had not formed part of the Electoral Commission’s investigation. It also interviewed Mr Banks and Ms Bilney."
“In reaching its decision, the NCA obtained advice from the Crown Prosecution Service and expert independent counsel due to the technical nature of Political Parties, Elections and Referendums Act (PPERA) offences and the company structures involved.
It added: "The NCA has not received any evidence to suggest that Mr Banks and his companies received funding from any third party to fund the loans, or that he acted as an agent on behalf of a third party."
Tweeting after the ruling, Mr Banks said: "Victory is sweet."
Brexit Party leader Nigel Farage said: "I am pleased that the NCA have cleared Arron Banks.
"The appalling establishment campaign against Mr. Banks must now end. Heads must roll - beginning with the @ElectoralCommUK who, without evidence, suggested that criminal offences may have been committed. Disgusting."
An Electoral Commission spokesperson said: "We are concerned about the apparent weakness in the law, highlighted by this investigation outcome, which allows overseas funds into UK politics.
"We have made recommendations that would tighten the rules on campaign funding and deter breaches. We urge the UK’s governments to act on those recommendations to support voter confidence.
"Significant sums were spent on campaigning at the 2016 EU referendum and it is vital that voters have transparency over the way these campaigns were funded.
"It is therefore right that suspected offences are investigated by the appropriate authorities, as the NCA has done in this case."
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