[ianch99]

Good news:

National Crime Agency launches investigation into leave campaigners over referendum - Politics live

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 NCA 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.

Following its investigation, the Commission has reasonable grounds to suspect that:

- Mr Banks was not the true source of the £8m loans made to Better for the Country.

- Loans to Better for the Country, on behalf of Leave.EU, involved a non-qualifying or impermissible company – Rock Holdings Limited, which is incorporated in the Isle of Man.

- Arron Banks, Elizabeth Bilney and others involved in Better for the Country, Leave.EU and associated companies concealed the true details of these financial transactions.

- A number of criminal offences may have been committed.