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Brexit donor Arron Banks contradicted his own evidence over source of £8m funding for Leave campaign, senior MP says

Brexit backer Arron Banks is dealing with contemporary stress to elucidate the supply of £8m of funding for the Depart marketing campaign amid claims from a senior MP that he had contradicted his personal proof.

The millionaire businessman is dealing with a legal probe over hundreds of thousands of kilos of loans and donations to Depart.EU – a gaggle he co-founded – which has been linked to doable Russian interference within the EU referendum.

Mr Banks sowed confusion when he told the BBC’s Andrew Marr Show that all the cash came from a UK-registered company, Rock Providers, and insisted he was being focused by politicians making an attempt to overturn the results of the Brexit vote.

Nonetheless Damian Collins, the influential Tory chairman of the Tradition, Media and Sport Committee, stated Mr Banks had beforehand given proof to parliament that the firm generated no money of its personal and solely existed to present companies to his different companies.

The Nationwide Crime Company launched an investigation into “suspected legal offences” by Mr Banks and Depart.EU when the elections watchdog stated it had affordable grounds to suspect that Mr Banks was not the true supply of the money.

Rock Holdings can be based mostly on the Isle of Man, which was impermissible below finance guidelines, the Electoral Fee stated.

Mr Collins instructed the BBC’s Immediately programme: “Principally Arron Banks stated the cash got here from a holding firm that he instructed the Choose Committee supplies companies to the opposite corporations he owns.

“What’s not clear is the place the cash got here from to get to that holding firm within the first place, as a result of it is a enterprise that in and of itself would not generate money. The query is the place did the cash come from?

“It’s a discrepancy as a result of what he instructed us was that Rock Providers actually simply supplies companies to different corporations that he owns – supplies money, makes funds. It would not make any cash itself. It is not promoting services and producing money.

“For Rock Providers to have cash to provide to Depart.EU or anybody else, that cash has received to have been put in that checking account by one other firm or one other particular person.

“If Rock Providers made the donation, the place did the cash come from for Rock Providers to try this? That’s nonetheless not clear. Regardless of what number of instances he was requested that query, he did not reply it.”

The Conservative MP rejected Mr Banks’ claims that the probe was about making an attempt to cease Brexit, saying it was a matter for parliament, not one other referendum

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He added: “There are two points right here. There may be the Brexit course of which is ongoing and there’s what must be a full and correct investigation into Mr Banks and the supply of his funds.”

The row stems from a overview of referendum funds by the Electoral Fee, which centres on £2m reported to have been loaned to Higher For The Nation by Mr Banks and his insurance coverage corporations and a £6m donation, which he made alone.

Mr Banks and Depart.EU chief government Liz Bilney deny any wrongdoing.

On Sunday, Mr Banks instructed the BBC’s Andrew Marr Present: “There was no Russian cash and no interference of any kind. I simply need to be completely clear about that.

“The cash got here from Rock Providers which was a UK restricted firm, it was generated out of insurance coverage enterprise written within the UK.

“Opposite to a few of the press stories within the FT and different Stay-leaning publications, we insure almost half one million prospects a yr – the dimensions of Manchester.

“We flip over £250m of premiums, it is a sizeable enterprise.”

He claimed the media was making an attempt to undermine the Brexit end result and had joined forces with a gaggle of “vicious MPs”.

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