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Arron Banks referred to National Crime Agency
Thornbury-based multi-millionaire Arron Banks has been referred to the National Crime Agency for suspected criminal offences committed during the EU referendum.
The businessman was one of Leave.EU’s most prominent backers throughout the 2016 campaign and is among a number of companies and individuals being investigated following a report by the Electoral Commission.
The watchdog says it has “reasonable grounds to suspect that money given to Better for the Country, the organisation that ran the Leave.EU campaign, came from impermissible sources”.
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Banks has repeatedly denied any wrongdoing during the referendum campaign that resulted in the country voting to exit the EU by a narrow margin (52 per cent, compared to 48 per cent backing remain).
But the Electoral Commission found that he and another senior campaign figure, Elizabeth Bilney – as well as other associates – “knowingly concealed the true circumstances under which this money was provided”.
In an official statement, Banks said he is “pleased” to be referred to the National Crime Agency, claiming that a “full and frank investigation will finally put an end to ludicrous allegations” against him and his colleagues.
The investigation focused on £2m reported to have been loaned to Better for the Country by Banks and his group of insurance companies and a further £6m reported to have been given to the organisation, on behalf of Leave.EU, by the businessman alone.
It found evidence suggesting that Banks was not the true source of loans, which are suspected to come from overseas funders. The law is that loans and donations to registered campaigners can only come from certain permissible sources, which essentially excludes overseas or foreign funding from any consequent impermissible influence on the outcome of the EU Referendum.
The National Crime Agency has now launched a criminal investigation.
Bob Posner, Electoral Commission director of political finance and regulation & legal counsel, said: “We have reasonable grounds to suspect money given to Better for the Country came from impermissible sources and that Mr Banks and Ms Bilney, the responsible person for Leave.EU, knowingly concealed the true circumstances under which this money was provided.
“This is significant because at least £2.9m of this money was used to fund referendum spending and donations during the regulated period of the EU referendum.
“Our investigation has unveiled evidence that suggests criminal offences have been committed which fall beyond the remit of the commission.
“This is why we have handed our evidence to the National Crime Agency to allow them to investigate and take any appropriate law enforcement action. This is now a criminal investigation.
“The financial transactions we have investigated include companies incorporated in Gibraltar and the Isle of Man.
“These jurisdictions are beyond the reach of the Electoral Commission for the purpose of obtaining information for use in criminal investigations or proceedings.”
Better for the Country was set up in May 2015. It was not a registered campaigner in the EU referendum, but ran the campaign on behalf of Leave.EU.
Leave.EU was a separate campaign to the official Vote Leave organisation.
Read more: Arron Banks under investigation for Brexit donations
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