Damian Collins mentioned there have been "important questions" about Mr Banks' function
An MP investigating claims of Russian interference within the Brexit vote has mentioned the founding father of Leave.EU should explain his contact with the nation.
The Sunday Times is reporting Arron Banks had extra conferences with Russian officers than he beforehand admitted.
Committee chairman Damian Collins mentioned the general public had a "right to know" the extent of Mr Banks' contact with Russia.
Mr Banks mentioned any recommendations Leave.EU obtained monetary assist from Russia was "complete, absolute garbage".
The businessman, who has agreed to look earlier than MPs on Tuesday, advised Reuters he and different Brexit supporters have been victims of a "political witch-hunt".
Since Britain voted to go away the EU in June 2016, questions have been raised concerning the unofficial marketing campaign of Leave.EU and its chief backer Mr Banks, in addition to the doable affect of Russia on the referendum end result.
The Sunday Times reviews Mr Banks had three conferences with the Russian ambassador to the UK. In his guide, The Bad Boys of Brexit, Mr Banks had beforehand admitted to just one.
The millionaire Brexit backer advised the paper: "I had two boozy lunches with the Russian ambassador and another cup of tea with him. Bite me."
'Important questions'
Mr Collins, chairman of the Commons Digital, Culture, Media and Sport Select Committee, advised BBC Sunday Politics that it was "big news" and "very relevant".
The Conservative MP mentioned there have been "important questions" for Mr Banks to reply, including: "We wish to perceive extra to what extent Mr Banks profited from his relationship with the Russian embassy.
The MP mentioned: "Did he become profitable out of it? Did he use that cash to fund campaigns?
"If he didn't then that's fine but given the prominent role he played we've got the right to ask these questions."
The Sunday Times mentioned Mr Banks and Leave.EU director of communications Andy Wigmore had additionally had lunch with the Russian ambassador in November 2016simply three days after they and the previous UKIP chief Nigel Farage had met Donald Trump in New York following his election victory.
Mr Banks and Mr Wigmore additionally mentioned potential enterprise alternatives in Russia, emails reportedly present, together with a proposal involving six gold mines.
'Shamelessly used'
The scale of the pair's hyperlinks to Russia is revealed in a sequence of 40,000 emails obtained by the previous Sunday Times journalist Isabel Oakeshott, who ghost-wrote Mr Banks' Bad Boys of Brexit guide.
Ms Oakeshott handed them to the paper after her e mail accounts have been "hacked".
She prompt Mr Banks and Mr Wigmore have been "shamelessly used by the Russians", however added nothing she had discovered "invalidates the judgement of the 17.4m people" who voted for Brexit.
"Had voters known about the links between Banks and Russia, I am certain they would still have made the same decision," Ms Oakeshott mentioned.
Mr Banks, who beforehand pulled out of a Commons inquiry into "fake news", mentioned he would now be giving proof, as deliberate, on Tuesday.
The businessman, who has given massive sums of cash to UKIP previously, advised Reuters he had met diplomats from the world over in addition to "briefing" the United States State Department in Washington.
"So if we are Russian spies we must be American spies too," he mentioned.
'Waiting for the cheque'
Mr Banks mentioned he couldn't have profited from any enterprise offers in Russia as a result of he didn't agree any and joked that if Russia had promised him any monetary assist, he was "still waiting for the cheque".
"This is just complete, absolute garbageit is like the Salem witch hunt. They just keep on screaming 'witch', 'witch'," he advised Reuters.
"The big picture is that they are in the full Remain swingthey are trying to discredit everybody involved in Brexit and it just continues apace."
Meanwhile, Mr Wigmore denied handing over any Brexit-related data.
"We never offered any information to... any Russian any details of our campaign," he advised the Sunday Times.
In a tweet, Mr Wigmore went on to recommend the emails had been illegally obtained.
When requested concerning the claims throughout a press convention on the G7 summit in Quebec, Prime Minister Theresa May mentioned: "I am sure that if there are any allegations that need investigation the proper authorities will do that."
The Russian embassy has mentioned it has not intervened in UK home politics.