SNP finance investigators looking at claims a 'fake company' was paid hundreds of thousands of pounds

Prosecutors who are investigating the SNP’s finances are understood to be looking at evidence a “fake company” received payments from the party.

According to receipts over £100,000 was allegedly spent on a new media suite in the SNP’s Edinburgh offices.

However investigators are reported to say they are looking at information which suggests the company which received these payments never existed.

On top of this a major high street bank flagged suspicious transactions on accounts connected with the SNP last year.

Two anonymous sources disclosed this information to The Sunday Mail.

The first source said: “A bank flagged up large transactions on SNP related accounts to the police in 2023 which they wanted to query.

“The bank was acting in line with its legal duty.

“Often these things turn out to be perfectly innocent, someone is buying a house for example, but there is a process that has to be gone through.

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“Contacting the police was a precursor to contacting the account holders to ask them to explain the transactions.

“However the police made it clear they were aware and no further action would be required from the bank.”

The second source also told the newspaper: “One of the biggest items being looked at is a six-figure sum which on paper appears to have been spent creating a media suite at the Edinburgh offices.

“There are receipts but it is unclear whether the company named on the receipts really existed.

“As things stand the total amount of potential embezzlement is around half a million pounds so this is very serious stuff.

“The police have handed over their findings to prosecutors and it is in their hands now.

“It is unlikely to be too much longer before we see movement on this, it is very much live, things are beginning to move quickly behind the scenes.

“Teams are up and running and independent counsel are reviewing all of the police findings.”

This comes after the home of former first minister Nicola Sturgeon and former SNP chief executive Peter Murrell was searched by police.

Former first minister Nicola Sturgeon and her husband Peter Murrell | Andy Buchanan/Getty Images

Both, along with former treasurer Colin Beattie MSP, were all arrested as part of the investigation but later released without charge.

Mr Murrell was then charged with embezzlement in April - Ms Sturgeon and Mr Beattie remain under police investigation.

Last year Police Scotland’s chief constable admitted the investigation had “moved beyond” the initial fraud inquiries.

A spokesperson for Police Scotland said: “On 9 August 2024, we presented the findings of the investigation so far to the Crown Office and Procurator Fiscal Service and we await their direction on what further action should be taken.”

This comes after leading criminal defence lawyer Thomas Leonard Ross KC said Operation Brancform “cannot go on indefinitely”, adding a person has the right to a trial within a reasonable time once they are charged.

A spokeswoman for the SNP said: “While the police investigation has reportedly been completed and passed over to the Crown Office, the case remains active and it would be inappropriate to comment on anonymised speculation, or about the party’s legal position.”