Arron Banks referred to National Crime Agency

PA Wire  PA Images               Arron Banks a millionaire insurance entrepreneur bankrolled the

"They raised this prospect of a company in the Isle of Man which could be the true source of the donations", Damian Collins, the lawmaker leading the United Kingdom government's inquiry into online misinformation, told TIME on Thursday.

The businessman has been referred to the agency by the Electoral Commission following an investigation into allegations that Banks had breached electoral law.

Banks denied any criminal wrongdoing following the reports.

"Our investigation relates to suspected electoral law offences covered by that referral, as well as any associated offences".

Ms Bilney also accused the Commission of having a "biased approach" in its investigations and said she was confident she would be "exonerated".

At the recommendation of the Electoral Commission, Mr Banks is being investigated along with his Leave.EU campaign.

"Isn't it amusing that none of the financial contributions made by George Soros to British political campaigns are ever subject to any level of scrutiny by the Electoral Commission despite his being a foreign national", Banks said.

In a statement, Banks said: "I am pleased that the Electoral Commission has referred me to the National Crime Agency". I am confident that a full and frank investigation will finally put an end to the ludicrous allegations levelled against me and my colleagues.

He added: "There is no evidence of any wrongdoing from the companies that I own". "Rock holdings is a company I own and control and I'm a United Kingdom tax payer, no Russian or foreign money has ever come into it". "The Electoral Commission has produced no evidence to the contrary", he added.

It claimed there were "reasonable grounds to suspect" that Mr Banks was not the true source of either loan and that "a number of criminal offences may have been committed".

Elon Musk says $20 Million Tweet fine was worth it
On a conference call with analysts, Musk said the company had delivered more cars in the past quarter than it did in all of 2016. According to the newspaper, the Federal Bureau of Investigation contacted former employees of the company to interview them.

"I run the group of companies where the money was from and we don't have any transactions that are from Russian Federation", she said.

In a statement, the NCA said: "The NCA has initiated an investigation concerning the entities Better for the Country (BFTC) and Leave.EU; as well as Arron Banks, Elizabeth Bilney and other individuals".

"A number of criminal offences may have been committed", it said.

The company received money on behalf of Leave.EU and paid their referendum expenses.

The statement marked the conclusion of an Electoral Commission inquiry into payments related to the referendum made to the two groups, during which Leave.EU and BTFC representatives told investigators that $104m of loans were financed by Banks.

But now the UK's National Crime Agency (NCA) has begun a probe.

According to the report, Banks "met Donald Trump in late 2016 with Farage-has always been a controversial figure with business links to Russian Federation".

Banks was the source of £2.9 million of "regulated" campaign spending (the other £5 million was from outside the key period), which is nearly 20% of the entire pro-leave spend.

Elsewhere, Mr Wigmore suggested Leave.EU had a "plethora of wonderful stuff to give to the [NCA]" which would shed light on what the motives of the campagin's detractors - including senior MPs - "actually were".

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