What's Going on?

No no no, this is all wrong. The Telegraph scoops Guido? Can't be now can it?

Suspects at the centre of the Labour Party's "cash for honours" scandal could be jailed for up to seven years if convicted of a more serious charge of false accounting. A fresh report has now been sent by Scotland Yard investigators to the Crown Prosecution Service (CPS), a senior source told this newspaper.

It is understood that Labour politicians and officials have laid themselves open to the new charge because, by their own admission, they kept details of £14 million of loans secret from Jack Dromey, the party treasurer.

The news will cause deep concern within the party because the offence of false accounting – under the Theft Act of 1968 – carries a maximum penalty of seven years' imprisonment.

Essentally, as they didn't tell Dromey, who is legally responsible for drawing up the accounts, they were conspiring to produce false accounting. The current spin is that they would have told him by the time the accounts were drawn up (presumably, the loans would have been converted to honours and donations by then).

Gonna be interesting folks.