Published: Wed, November 07, 2018
Markets | By Otis Pena

Arron Banks insists there is 'no Russian money' in Brexit donations

Arron Banks insists there is 'no Russian money' in Brexit donations

And the man who funded posters claiming the United Kingdom was at "breaking point" over immigration even claimed that the channel's news programme was a "leading proponent" of angst in the country.

According to Andy Wigmore, a close associate of Banks, access to the accounts in question have been released to the BBC ahead of today's show, and Banks is expected to refer to a legal opinion to demonstrate that the financial dealings in question were legitimate.

It said that, as well as having reasonable grounds to suspect he was not the true source of the cash, loans involved a company, Rock Holdings, based on the Isle of Man, which was impermissible under the rules.

Banks said: "There was no Russian money and no interference of any type".

A National Crime Agency (NCA) probe has been launched into "suspected criminal offences" after the Electoral Commission said it had reasonable grounds to suspect that Banks was not the true source of the cash.

The tycoon is also facing allegations he may have misled parliament over links between Leave.EU and his aforementioned insurance business, Eldon Insurance, during the referendum. It doesn't make any money itself.

Mr Banks denied Rock Services was a "shell company" that did not have sufficient funds to be the source of the money for Better for the Country (BFTC), which ran Leave.EU.

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He said Rock Services had "all sorts of revenues", but did not detail them. That is still not clear.

One of the leading figures behind Britain's decision to leave the European Union now says he would vote for the United Kingdom to remain, claiming it would have been better to "not unleash these demons" created by Brexit.

Questions over the validity of the referendum result could be raised only if misconduct was "proven to be true as a effect of the investigation", he said. "They're ex-MPs from the Labour Party, Liberals, they're all Remainers, they've made some horrendous statements on Brexit, including the chairman who said Brexit was a bunch of nonsense, one's called for a second, referendum, it's a political hit job" - prompting the journalist to repeat "I'm sorry to interrupt" three times before managing to change the subject.

Richard Tice of Leave Means Leave told BBC Newsnight that "Remoaners" were using the investigation as an excuse to try and overturn Brexit.

"There are two issues here".

The commission also referred Leave.EU, its chief executive, Elizabeth Bilney, and the organisation that ran it, Better for the Country, to the NCA last week after carrying out a review.

Mr Banks said that the £8 million he gave or loaned to pro-Brexit groups during the 2016 referendum campaign was generated entirely "out of insurance business written in the UK".

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