Britain's National Crime Agency on Tuesday said it was dropping an investigation into Arron Banks, the biggest donor behind the Brexit referendum campaign.
The NCA said in a statement it had found "no evidence that any criminal offences have been committed" following allegations from the Electoral Commission.
It said it would therefore take no further action against the insurance industry tycoon, just over a week after the Metropolitan Police said it was also dropping its probe.
Some reports about the investigation had claimed that Banks may have used money from a third party, possibly a foreign government like Russia, to fund the campaign.
Reacting to the decision, Banks said: "No overseas money was used in the Brexit campaign, it was my money." He said on Twitter the investigation was "part of a political witch-hunt led by anti-Brexit MPs".
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The Electoral Commission said the case highlighted an "apparent weakness" in the law against foreign money being used in British politics.
"We have made recommendations that would tighten the rules on campaign funding and deter breaches," it said.
Leave.EU, the campaign group funded by Banks, and an insurance company he owns were fined a total of 120,000 pounds(135,000 euros, $149,000) earlier this year for using the personal data of insurance clients to send them targeted political ads during the referendum campaign.
Vote Leave was the official pro-Brexit campaign, while Leave.EU was the biggest unofficial lobby group.
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