The National Crime Agency has concluded that Arron Banks and Leave.EU did not commit a criminal offence after the Electoral Commission referred allegations to them.

The NCA has full access to bank transactions and found nothing illegal or untoward. Carole Cadwallader’s absurd conspiracy theories have once again been found to have zero credibility – she should make a settlement offer this afternoon…

The conclusion reads as follows:

The NCA investigation has concluded that:

• Mr Banks took a loan from Rock Holdings Ltd, a company of which he is the ultimate beneficial owner. He was legally entitled to do so.
• Mr Banks was legally entitled, in his capacity as an individual, to release these funds to Better for the Country Ltd, by instructing another of his companies, Rock Services Ltd, to make the transactions on his behalf.
• Rock Holdings Ltd was not involved in these transactions in a manner which contravened PPERA.

The NCA has found no evidence that any criminal offences have been committed under PPERA or company law by any of the individuals or organisations referred to it by the Electoral Commission. It will therefore take no further action against Mr Banks, Ms Bilney, Better for the Country Ltd or Leave.EU in respect of this specific matter.

Despite successive recent defeats, the Electoral Commission have refused to back down, saying, “We urge the UK’s governments to act on those recommendations to support voter confidence”, today’s Electoral Commission defeat is another example of how it simply isn’t fit for purpose…

UPDATE: Banks has responded with one of his usual punchy comments…

Victory is sweet .. poor little remainer! https://t.co/IuDb2Ar4cf

— Arron Banks (@Arron_banks) September 24, 2019

Banks’s full statement is as follows:

For nearly a year, I have been subjected to an endless media campaign suggesting that I behaved improperly during the 2016 referendum campaign.

This is all because the Electoral Commission, having found no impropriety, forwarded my file to the NCA. They made false, outrageous allegations that I was not the true source of funds during that campaign and that “a number of criminal offences may have been committed’.

Several prominent media organisations have sought to declare the referendum result invalid, suggested that Russia was the source of the money and caused serious damage to the reputations of Liz Bilney and myself.

No wrongdoing of any kind has been found and I intend to take action against those who have behaved so scandalously.

The retribution will be sweet…