Arron Banks: Difference between revisions

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He was previously CEO of AIM-listed [[Conister|Manx Financial Group]] from April 2008 to February 2009.<ref name="growthbusiness-20070515"/> ''The Guardian'' reported in 2014 that [[Companies House]] records appeared to show that Banks had set up 37 different companies using slight variations of his name. The names used by Banks were Aron Fraser Andrew Banks, Arron Andrew Fraser Banks, Arron Fraser Andrew Banks and Arron Banks. The profiles for the first three names all used the same date of birth but registered different lists of companies. When asked by ''The Guardian'' about this in 2014, he declined to answer questions on the topic.<ref name=Syal>{{cite news |last=Syal |first=Rajeev |title=Ukip donor Arron Banks shows tax cheque sent to HMRC for £1.86m |url= https://www.theguardian.com/politics/2014/oct/04/ukip-donor-arron-banks-shows-tax-cheque-sent-hmrc|work=The Guardian |date=4 October 2014 |access-date=8 December 2016}}</ref>{{importance-inline|date=May 2023}}
 
Banks also owns [[Eldon Insurance]], whose CEO Elizabeth Bilney was also in charge at Leave.EU. The company's profits leapt to £16.7m for the first half of 2017 after recording a £284,000 profit in 2015 and a loss of £22,500 in 2016 despite a 40% increase in revenue. Banks said that Eldon's business had been transformed by the same [[AI]] technology used in the Brexit campaign.<ref>{{cite news|title=Revenue jumps at UKIP donor Arron Banks insurance business Eldon |url=httphttps://ukwww.businessinsider.com/revenue-ukip-donor-arron-banks-insurance-business-eldon-2017-10 |work=Business Insider |date=16 June 2018}}</ref> The [[Offshore investment|offshore]] [[holding company]] that controls Eldon Insurance is ICS Risk Solutions, which funds many of Banks' activities and has paid over £77m between 2015 and 2018 to prop up Southern Rock after Gibraltarian regulators found the business to be trading while technically insolvent.<ref>{{cite news |title=MPs call for police to investigate Arron Banks' links to Russia |url=https://www.theguardian.com/politics/2018/jun/10/arron-banks-mps-call-for-police-investigate-russia-links |work=The Guardian |date=10 June 2018}}</ref> As part of an agreement with the regulators Banks resigned his directorships at Eldon in 2013 and Southern Rock in 2014, also accepting a "period of ban or self-exclusion from other insurance directorships".<ref>{{cite news |first1=Cynthia |last1=O'Murchu |first2=Henry |last2=Mance |title=How the businesses of Brexit campaigner 'King' Arron Banks overlap |url=https://www.ft.com/content/8cddfeea-5c02-11e7-b553-e2df1b0c3220 |newspaper=The Economist|date=30 June 2017}}</ref>
 
He also bought Old Down Manor from musician [[Mike Oldfield]], converting it into a wedding venue.<ref name="New Statesman 2016-10-13"/>
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The [[National Crime Agency]] investigated Leave.EU, Banks and Bilney, as well as other individuals and entities, following the referral of material from a second Electoral Commission investigation. The referral was announced amid concerns that Banks was not the true source of £8m donated to Leave.EU.<ref>{{cite news|first=David |last=Pegg |url=https://www.theguardian.com/uk-news/2019/sep/13/met-to-take-no-further-action-over-leaveeu-spending-breaches-arron-banks |title=Met to take no further action over Leave.EU spending breaches |work=The Guardian |date=13 September 2018 |access-date=27 September 2019}}</ref> In September 2019 the National Crime Agency said it had found no evidence of criminality after investigating a series of claims against the Brexit campaign group Leave.EU and Arron Banks. The NCA said: "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."<ref name="theguardian2">{{cite news|url=https://www.theguardian.com/uk-news/2019/sep/24/no-evidence-leave-eu-and-arron-banks-broke-law-says-agency-brexit|title=No evidence Leave. EU and Arron Banks broke law, says crime agency|date=24 September 2019|work=The Guardian|access-date=27 September 2019}}</ref>
 
Banks claims that in 2018, [[Barclays]] closed his bank accounts, including business accounts, due to his political views.<ref>{{cite web |title=Bad Boys of Brexit claim they were 'debanked' like Nigel Farage |url=https://www.thetimes.co.uk/article/bad-boys-of-brexit-claim-they-were-debanked-like-nigel-farage-sqzb332df |website=[[The Times]] |date=29 July 2023 |access-date=1 August 2023}}{{Subscription required}}</ref><ref>{{cite web |title=Arron Banks claims Barclays closed his account in 2018 |url=https://www.postonline.co.uk/news/7953937/arron-banks-claims-barclays-closed-his-account-in-2018 |website=Insurance Post |date=31 July 2023 |access-date=1 August 2023}}</ref>
 
=== Leave.EU Liquidation ===
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In a defamation claim against the journalist [[Carole Cadwalladr]], Banks was awarded £35,000 in damages and 60% of his costs.<ref>{{cite news | url=https://pressgazette.co.uk/media_law/arron-banks-wins-carole-cadwalladr-libel-appeal/ | title=Arron Banks awarded £35,000 damages and 60% of his costs after Cadwalladr libel ruling appeal | work=Press Gazette | date=18 May 2023 }}</ref> Banks said he was defamed after comments Cadwalladr made about his relationship with the Russian state.<ref>{{cite news | url=https://www.bbc.co.uk/news/uk-61782578 | title=Arron Banks loses Russia libel case against Carole Cadwalladr | work=BBC News | date=13 June 2022 }}</ref> Banks initially lost his case in the High Court but partly succeeded in the Court of Appeal. The Appeal Judges ruled he was due damages for a Ted Talk given by Cadwalladr. While covered by a public interest defence when it was originally given, that defence fell away on 29 April 2020 when the Electoral Commission issued a statement that Banks did not commit any criminal offence. The Court of Appeal found the views of the Ted Talk after this date caused Banks serious harm, hence the damages. All other points of the appeal by Banks were dismissed.<ref>{{cite news | url=https://pressgazette.co.uk/media_law/arron-banks-wins-carole-cadwalladr-libel-appeal/ | title=Arron Banks awarded £35,000 damages and 60% of his costs after Cadwalladr libel ruling appeal | work=Press Gazette | date=18 May 2023 }}</ref>
 
This legal action carried out by Banks was considered by 19 press freedom organisations to be a strategic lawsuit against public participation ([[SLAPP]]) and abuse of law.<ref>{{Cite web |title=Nineteen organisations reiterate their support for Carole Cadwalladr as she faces SLAPP trial |url=https://rsf.org/en/nineteen-organisations-reiterate-their-support-carole-cadwalladr-she-faces-slapp-trial |access-date=20 July 2022 |website=rsf.org |date=14 January 2022 |language=en}}</ref>
 
In 2023, following Banks' partial success in an appeal, [[Carole Cadwalladr|Cadwalladr]] has been ordered to pay about £1.2 million in legal costs<ref>{{Cite news |date=2023-05-19 |title=Carole Cadwalladr ordered to pay £1.2m costs in Arron Banks libel trial |url=https://www.bbc.com/news/uk-65644475 |access-date=2024-05-13 |language=en-GB}}</ref> Afterwards, Cadwalladr, did set up a [[crowdfunding]] site to help fund her defence. Banks has called it “vindication”.<ref>{{Cite news |editor=Townsend, Mark |date=20 May 2023 |title=Observer's Carole Cadwalladr facing heavy legal costs in Arron Banks case |url=https://www.theguardian.com/media/2023/may/20/observers-carole-cadwalladr-facing-heavy-legal-costs-in-arron-banks-case |access-date=13 May 2024 |work=The Observer |language=en-GB |issn=0029-7712}}</ref>
 
==Greta Thunberg==
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===Westmonster===
 
On 19 January 2017 (one day before [[First inauguration of Donald Trump|Donald Trump's inauguration]] as the [[45th President of the United States]]) Banks launched Westmonster alongside [[Michael Heaver]], former press adviser to [[Nigel Farage]].<ref name="Rajan-18Jan17a">{{cite news|last1=Rajan|first1=Amol|title=Arron Banks launches anti-establishment website|url=https://www.bbc.co.uk/news/entertainment-arts-38650596|work=[[BBC News]]|date=18 January 2017}}</ref><ref name="Jackson-19Jan17a">{{cite news|last1=Jackson|first1=Jasper|title=Arron Banks launches Breitbart-style site Westmonster|url=https://www.theguardian.com/media/2017/jan/19/arron-banks-launches-breitbart-style-site-westmonster|work=[[The Guardian]]|date=19 January 2017}}</ref> It is modelled on the right-wing US websites ''[[Breitbart News]]'' and the [[Drudge Report]] and claims to be "pro-Brexit, pro-Farage, pro-Trump, anti-establishment, anti-open borders, anti-corporatism".<ref>{{cite news|title=Westmonster: Arron Banks launches 'anti-establishment' website|url=http://www.theweek.co.uk/80681/westmonster-arron-banks-launches-anti-establishment-website|work=The Week UK|date=19 January 2017|language=en}}</ref><ref>{{cite news|last1=Rettman|first1=Andrew|title=Brexit men launch anti-EU website|url=https://euobserver.com/uk-referendum/136603|work=EU Observer|date=19 January 2017|language=en}}</ref> In the morning of 19 January, Westmonster's Twitter account had gained more than 2,500 followers.<ref name="Bulman-19Jan2017a">{{cite news|last1=Bulman|first1=May|title=Multimillionaire who funded Brexit campaign has launched a website to take on 'the establishment'|url=https://www.independent.co.uk/news/uk/home-news/arron-banks-ukip-donor-leave-eu-founder-launches-westmonster-ant-establsihment-populist-nigel-farage-a7534656.html|work=The Independent|date=19 January 2017}}</ref>
 
====Owners====
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[[Category:UK Independence Party donors]]
[[Category:People named in the Panama Papers]]
[[Category:People named in the Paradise Papers]]
[[Category:People associated with Russian interference in the 2016 United States elections]]
[[Category:People from Northwich]]
[[Category:1966 births]]
[[Category:People named in the Paradise Papers]]