Ken Livingstone's crime and equality advisor will not be investigated over fraud claims.
Police say they have found no evidence of criminal activity and have not received a complaint of wrongdoing against one of the Mayor's closest aides, Lee Jasper.
The allegations, published in the Evening Standard, centred on a number of payments made by the London Development Agency, the Mayor's business arm, to black organisations.
The matter was referred to the police on the request of Mr Jasper, who said the claims were part of a political conspiracy.
But he was suspended from from his position and later resigned from the advisory board of Trident - the Met squad which investigates gun crime in the black community.
A Metropolitan Police spokesman said: "The Met is investigating six allegations of fraud that have been referred to us in connection with six organisations that received public funding.
"Matters of alleged misconduct that are not supported by evidence of criminal wrongdoing are not a matter for the police "In addition we have received a request asking us to consider the conduct of one individual and his involvement with these organisations.
"To date there have been no criminal allegations reported to us in connection with this individual."
A spokesman for Ken Livingstone said: "It is quite clear that the charge of 'a tide of corruption' made by London Assembly member Richard Barnes on 13 December is a criminal allegation.
"He should either present evidence to the police for it immediately or formally withdraw it and apologise."
An internal GLA inquiry cleared Mr Jasper of any wrongdoing.
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