Police are examining claims that more than £1.5m raised by the campaign group which fought for Scottish independence in 2014 has vanished – allegations that threaten to widen the scandal already engulfing the SNP.
The complaint was made by David Henry, a former SNP branch secretary who was part of the same group whose concerns about the party’s finances led to the Operation Branchform investigation and the eventual conviction of former chief executive Peter Murrell. Henry told the Sunday Mail that Yes Scotland Ltd’s accounts from 2016 onward showed a zero balance, and that £1.5m which was recorded earlier appeared to have “just gone”.
“Police investigate claims £1.5m raised by pro-independence group Yes Scotland is unaccounted for.”
Yes Scotland Ltd was set up by former SNP leader and first minister Alex Salmond in May 2012 to campaign for independence. Although the SNP has said the company was an “entirely separate organisation” from the party, Nicola Sturgeon served on its board, and Shirley Anne-Somerville, Scotland’s cabinet secretary for social justice and housing, worked there as director of communities. The company has not been active since the 2014 referendum, when Scots voted against independence.
Henry’s complaint focuses on a note in the company’s 2014 accounts that listed £1,524,998 as “other income”. That figure was never mentioned again in subsequent filings and appeared to have vanished altogether when accounts for 2016 showed Yes Scotland Ltd had a zero balance. Since 2016, the company has filed dormant accounts – submissions made by companies with no deposits or withdrawals but which still exist. Its latest filings, published in August 2025, showed nothing in the bank since October 2024.
A Police Scotland spokesperson said: “We have received a complaint and inquiries are ongoing.” Henry is planning to meet officers to hand over more evidence in the coming weeks.
The development comes after Peter Murrell was jailed for more than five years for embezzling more than £400,000 from the SNP over five years. Murrell, who is married to former first minister Nicola Sturgeon, spent the stolen money on luxury items, including gifts for Sturgeon. She has denied any knowledge of his crimes before the stories emerged.
Scottish Labour’s deputy leader, Dame Jackie Baillie, said: “These are incredibly serious allegations and it is right that they are considered by the police. There are still far too many unanswered questions surrounding Peter Murrell’s fraudulent activities and the secrecy of the SNP. John Swinney and the SNP need to stop running scared and come clean about these allegations and back a full financial audit of the accounts.”
Scottish Conservative leader Russell Findlay said: “Peter Murrell’s crimes were enabled by the SNP’s toxic culture of control and aggressive aversion to basic levels of scrutiny. But John Swinney’s determination to shut down an independent inquiry shows that they haven’t learned any lessons. That’s why an inquiry is critical and why these latest allegations should be fully investigated by the police.”
An SNP spokesperson said: “The criminal actions of Peter Murrell were uncovered by a complex and extensive police investigation which found the SNP was the victim of embezzlement.”
The allegations have also drawn in the Scottish Greens. Co-leader Ross Greer deleted a tweet from 2023 in which he thanked Murrell for giving him a pay rise during his time as a Yes Scotland staffer, after Murrell admitted to the £400,000 embezzlement. Sean Clerkin, the activist whose complaint about missing money for a second referendum campaign prompted Operation Branchform, said: “I am appalled at what appears to be further evidence of missing money – now from the original 2014 independence campaign.”