Major Brexit donor Arron Banks: UK may have been better to Remain

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One senior MP has said that the TV grilling of Banks by Marr earlier had exposed a "discrepancy" in his account of how he sourced £8m of funding to the Leave campaign.

The Electoral Commission concluded that Banks was not the true source of the £8mn in loans provided to the Leave.EU referendum campaigns; that the lending involved a non-qualifying or impermissible company - Rock Holdings Ltd - based in the Isle of Man; and that Banks, Bilney and others concealed the true details of the financial transactions.

This would have made it an "impermissible" source of money under United Kingdom electoral law.

He said his opinion had been altered by the "corruption I have seen in British politics, the sewer that exists and the disgraceful behaviour of the government over what they are doing with Brexit and how they are selling out". "I am a United Kingdom taxpayer and I have never received any foreign donations", he said on Thursday. The question is where did the money come from?

He previously told MPs in June that Rock Services "is a treasury function" and "just delivers the cash".

Pressed on how Rock Services could generate the £8m when it is listed as a non-trading company, Banks said the cash came from the insurance business of Rock Services and that all Leave funds were generated by UK-listed companies.

Mr Banks told Andrew Marr: "I can say that was reported to the Electoral Commission, and people who did work for Eldon were transferred over on short-term contracts legally, and it was reported through the Electoral Commission in the right way".

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He disputed the Electoral Commission's status as an independent body, claiming "they're all Remainers" - and he also described the organisation as a "complete shambles".

One of those meetings was three days after Mr Banks, his associate Andy Wigmore and former UKIP leader Nigel Farage met newly elected US President Donald Trump.

Mr Banks has been accused of misleading Parliament over links between Leave.EU and his insurance businesses. "I'm not interested in Channel 4, I'm not interested in you, and now I'm going to lunch".

The businessman and co-founder of the Leave.EU campaign had been interviewed on the BBC's Andrew Marr show and Sky News when Manji tried to quiz him on his funding.

"The whole point of this exercise is to have a reason to try to delay Brexit", he said.

Responding to the decision to refer Banks to police, Liberal Democrat lawmaker, Tom Brake, who speaks for his party on Brexit said "people have known for a long time that the Brexiter ranks were filled with dodgy demagogues, today's news will be little surprise".

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