Well-known British Brexit advocate Arron Banks has lost a defamation case against a journalist who accused him of covert links to the Russian government.

Author Carole Cadwalladr had "reasonable cause" for her claims, albeit no "evidence" to support them, ruled High Court Justice Karen Steyn.

Businessman Banks co-founded and financed the unofficial Leave.EU Brexit campaign, which campaigned for Britain to leave the EU ahead of the 2016 referendum.

Cadwalladr had claimed in a speech and on Twitter in 2019 that Banks lied about his ties to Russia.

Banks then sued her for defamation.

In the public interest

Judge Steyn ruled Cadwalladr's release was in the public interest and did not seriously harm Bank's reputation.

The journalist, who had to crowdfund her legal costs, tweeted after the verdict that she was "deeply grateful and relieved."

Banks said he's likely to appeal.

The organization Reporters Without Borders (RSF) welcomed the decision of the Supreme Court.

Carole Cadwalladr's victory is a victory for press freedom and for public interest journalism, RSF said.

"We are delighted with this groundbreaking ruling in favor of press freedom," said RSF's German Managing Director, Christian Mihr.

"Not only has Carole Cadwalladr's fight against this vexatious lawsuit sent a signal for press freedom, her victory in court will have a tangible impact on the work of media professionals in the UK and beyond."

In September 2019, British police dropped investigations into the funding of Banks' Leave.EU campaign despite violations of voting rights.

Earlier this year, Leave.EU and an insurance company run by Banks were fined £120,000 (€140,000) for using customers' personal information to target them with political ads.