Legal trouble ahead for the Conservative Party over funding?

Buried at the end of today’s report in The Independent about the cash for honours police investigation is this paragraph:

A senior figure close to the probe said the issue of whether both main political parties broke the law by hiding donations as “loans” was still “live”.

The Conservatives have quite a lot of form on, shall we say, dancing around the rules about declaring donations and have been keeping the police and regulators very busy with a series of wheezes.

They includes taking large loans and then doing their best to keep them secret, taking money from foreign firms with only ultra-minimal information about who the firms are or who is behind them, their use of more than one “front company” in a way that means the original donors don’t have to be declared and then there are their unusual property transactions.