The Electoral Commission has launched an investigation into the Brexit referendum spending return of the Leave.EU campaign bankrolled by insurance magnate Arron Banks.
A spokesperson for the Electoral Commission said the probe followed an assessment which concluded that there were “reasonable grounds” to suspect Leave.EU committed “potential offences” under the law.
Once the investigation is complete, the Electoral Commission will decide whether any breaches have occurred and what further action may be needed.
On his Twitter account, Banks cried foul over the investigation and questioned its timing, saying it was “clearly politically motivated” considering that he just announced his intention to stand for a seat in Parliament in the June general election.
Banks said Leave.EU will be “vigorously defending” itself from the allegations.
In a statement sent to The Times, Banks said the Leave.EU campaign “fully and correctly” complied with the Electoral Commission rules on spending during the Brexit referendum.