MICHAEL Russell has said £600,000 raised for a SNP second independence campaign is "not missing" and that the money is still available for this purpose.

The former constitutional affairs secretary was asked at a National Roadshow event about the matter after police last month launched a formal investigation following a number of complaints made by people who had donated cash.

Russell, who is now the SNP president, said: "Colin Beattie [the party's treasurer] ... has given a very comprehensive and clear statement of where that money is, that money is available for campaigning for independence, it is accounted for minutely and it will be spent on independence. 

READ MORE: Police announce formal investigation into SNP fundraising

"The procedures used for it were exactly the same procedures we have used for all previous similar funds and there was nothing suspicious or devious about it whatsoever. One of the things we do suffer from is a malice from some people which goes on repeating things even when they are not true.

"I also saw when Nicola [Sturgeon] asked me to take this job on and the NEC confirmed that I saw somebody had admitted to falsifying a tweet to say that I was going to receive part of that money.

"For the record I am not paid for what I do as president of the SNP or in the independence unit. I haven't asked for money and I'm not given money and I'm certainly not paid £600,000. 

"So as far as I am concerned there is no missing money. This is simply not sure and I think the repetition of it is malicious, but there are some people who will go on believing it no matter what.

READ MORE: Michael Russell warns Yessers must be wary of 'ideologues' in Tory government

"The fact the accounting methods have remained the same for a very long time and that the accounts have been fully audited and audited and audited and that they meet all the legal requirements doesn't seem to matter.

"We do sometimes live in a post truth society but there is no missing money, absolutely none and that money will be used for independence and it is not being used on me."

Last month Police Scotland said they had launched a formal investigation into potential criminality involving SNP fundraising.

The force, which has been assessing a fraud allegation from a member of the public since late March, said it had escalated its work after consulting with prosecutors.

It has asked "anyone who has any information which may assist with this investigation" to get in touch.

The move followed the SNP raising more than £660,000 since 2017 specifically to fight an indyref2 campaign.

READ MORE: SNP treasurer pledges £600,000 appeal cash will be spent on indyref2

In March, three members of the SNP’s finance and audit committee quit amid complaints about being denied access to the accounts.

Two months later new SNP treasurer Douglas Chapman MP also quit, complaining a lack of transparency had stopped him carrying out his “fiduciary duties”.

He was later succeeded by Beattie, who had previously been treasurer.

SNP MP Joanna Cherry QC quit the party’s ruling body, the National Executive Committee, the same month, again citing issues with transparency and scrutiny. 

In a statement Beattie insisted “amounts equivalent to the sums raised” would be spent on campaigning in future.