Asked if he believed there was any attempt by Russian Federation to influence the outcome of the 2016 vote, Mr Banks said it was "possible" but he believed it was confined to a few hackers and computer bots at a "low level". After the warnings, Banks said, the deal fell away.
He said: 'I've got no business interests in Russian Federation and I've done no business deals in Russian Federation'.
Questions about Banks's engagement in the gold deal came at the end of a marathon three-hour hearing that saw Nigel Farage's backer eventually walk out, refusing to answer five more minutes of questions because he had another appointment and had been previously told the hearing was close to a conclusion.
Asked if there was any Russian money given to Leave.EU, Mr Wigmore insisted: "No, not one penny or one rouble".
"I've got no business interests in Russian Federation and I've done no business deals in Russian Federation", said Banks, who was pictured with Trump and fellow Brexit backer Nigel Farage at Trump Tower days after the presidential election in November 2016.
Before the inquiry was even in full swing, Mr Wigmore made clear his annoyance over being grilled about links to Russian Federation.
Giles Watling, a Conservative MP on the committee, asked Banks: "I'd like to move on to big scary Russian Federation". I would like to know what the police are going to investigate - lunch with the Russian ambassador?
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Mr Banks replied: 'No. Echoing his phrase, Banks agreed: "Many good lunches".
Referring to the London ambassador Alexander Yakovenko, he said: "I've met him and his people in the diplomatic community many times - that's what you do".
He told Mr Farage there was another lunch meeting and a "cup of tea", where he was introduced to a businessman involved in the Russian gold mines, but denied using the Brexit campaign to further his business interests. "What's wrong with that?" According to Wigmore, she has said: "This young girl said, 'You're British, do you have the telephone number for No 10 Downing Street?"
"Where is the evidence we took Russian money".
Leave.EU was fined £70,000 by the Electoral Commission earlier this year for breaches of election law in the Brexit referendum. Collins told the committee that as a result it would not be possible for the committee to explore related areas. The group operated separately from the official Vote Leave campaign.
Before questioning had even begun, Wigmore challenged Damian Collins' right to chair the hearing, following reports on the Guido Fawkes website that the MP had received tickets to Stamford Bridge worth £1,000. "I didn't know that Roman Abramovich was Putin's number one man in London, but you may know more than I do".
"We had about four shots of Stalin vodka, brandy, wine".