Theresa May when Home Sec stopped security services looking into Arron Banks

The topic was simply too explosive in run up the 2016 EU Referendum

Ben Bradshaw tweeted May has 'serious questions' to answer about revelation

Theresa May has 'serious questions to answer', says a Labour MP over revelations she stepped in to stop security services probing Arron Banks on the eve of the Brexit referendum.

The Mail understands that in early 2016 the then home secretary Theresa May declined a request by one of the security services to investigate Banks- as the topic was simply too explosive in the run up to the referendum.

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The revelation comes just a day after Britain's FBI confirmed they are investigating Arron Banks for 'multiple suspected offences.'

Ben Bradshaw, pictured when he was Secretary of State for Culture, Media and Sport, has called for answers from Prime Minister Theresa May

The discovery May stopped security services probing Banks has sparked a furore online and Labour MP Ben Bradshaw, who was Labour's Secretary of State for Culture, Media and Sport from 2009 to 2010, has called for answers.

He tweeted: 'If it is true that Theresa May stopped the intelligence services from investigating Banks in 2016 because of sensitivity about the referendum, the Prime Minister has serious questions to answer.'

The intervention by Mr Bradshaw comes after The Mail has also seen a letter which Ben Gummer MP, at that time minister for the cabinet office, wrote to the Labour MP in February 2017.

It was in response to Mr Bradshaw’s expressed fears of external interference in the referendum campaign.

‘I can assure you there is no evidence or reasonable grounds for suspicion concerning foreign interference in UK elections or the EU referendum,’ wrote Mr Gummer.

‘I am confident that there is negligible risk of a foreign government or agency being able to influence the operational delivery of electoral events in the UK.’

Theresa May, pictured at prime minister's questions Wednesday, has questions to answer over the revelation she stopped security services looking into Arron Banks

The revelations by The Mail could not come at a more awkward time for Mrs May after it transpired the National Crime Agency (NCA) is investigating Mr Banks.

The Prime Minister is also reeling from well-respected Sports Minister Tracey Crouch resigning over the delay to cracking down on Fixed Odds Betting Terminals (FOBT).

The Electoral Commission yesterday referred Mr Banks to the National Crime Agency who have launched an investigation into 'multiple suspected offences' including an alleged conspiracy to 'conceal the true details of these financial transactions'.

Police will trace whether the £8million Leave.EU loans came from abroad, which would be illegal, but have not specified the country they believe it was transferred from.

Mr Banks responded by posting a Bermuda selfie on Twitter and blamed 'intense political pressure from anti-Brexit supporters' for the police probe.

Liz Bilney, CEO of Leave.EU, is also being investigated - but neither she nor Banks have been arrested.

Mr Banks said yesterday he is 'confident that a full and frank investigation will finally put an end to the ludicrous allegations levelled against me and my colleagues'.

He has suggested that investigations into his finances are part of a ploy to derail Brexit.

Arron Banks is being investigated by police over Brexit campaign funding - and responded with this tweet of himself relaxing in Bermuda

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Responding yesterday Mr Banks said: 'I am pleased that the Electoral Commission has referred me to the National Crime Agency.

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'There is no evidence of any wrongdoing from the companies I own. I am a UK taxpayer and I have never received any foreign donations. The Electoral Commission has produced no evidence to the contrary.

'The Electoral Commission has referred me to the National Crime Agency under intense political pressure from anti-Brexit supporters.

'I am already in court with the Electoral Commission. In witness statements the commission has admitted it got its figures wrong in relation to a previous investigation and it even submitted its final report without taking evidence from us'.

Banks is considered Brexit's biggest financial power but was a backer of Leave.EU rather than the official campaign, Vote Leave, whose members included Boris Johnson and Michael Gove.

The National Crime Agency said in a statement yesterday: 'The NCA has initiated an investigation concerning the entities Better for the Country (BFTC) and Leave.EU; as well as Arron Banks, Elizabeth Bilney and other individuals. This follows our acceptance of a referral of material from the Electoral Commission.

'Our investigation relates to suspected electoral law offences covered by that referral, as well as any associated offences.

'While electoral law offences would not routinely fall within the NCA's remit, the nature of the necessary inquiries and the potential for offences to have been committed other than under electoral law lead us to consider an NCA investigation appropriate in this instance.

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'This is now a live investigation, and we are unable to discuss any operational detail.'