Arron Banks has reached a settlement with the Electoral Commission over alleged offences by his Brexit campaign group in the 2016 referendum.
The election watchdog referred Leave.EU to the National Crime Agency (NCA) in November 2018 over loans the campaign received from companies owned by Mr Banks.
The NCA concluded in September the following year that there was no evidence of criminal offences.
It said no further action would be taken against Leave.EU, its CEO Liz Bilney or its founder Mr Banks.
The Electoral Commission said it stood by its investigation to ensure “transparency” over funding - Mr Banks threatened to take it to court for defamation.
The parties reached an "amicable settlement" in the Hight Court this week, requiring the Electoral Commission to remove to statements from its website.
Mr Banks has now called for the independent election regulator to be investigated by Parliament.
Fellow Brexiteer Nigel Farage said the ruling showed the Electoral Commission was “not fit for purpose.”
He tweeted: “After years of false and damaging allegations, Arron Banks wins against the biased Electoral Commission.
“The Remain establishment have behaved appalingly [sic] since they lost in the referendum.The @ElectoralCommUK is not fit for purpose.”
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