Michelle Mone and husband have £75million worth of assets frozen amid PPE fraud probe

Michelle Mone and Doug Barrowman

Baroness Michelle Mone and her husband have had a reported £75 million of assets frozen as investigations continue into an alleged pandemic PPE fraud.

A Belgravia townhouse, an estate on the Isle of Man, and 15 bank accounts are among the assets which have been restricted by the order obtained by the Crown Prosecution Service.

Baroness Mone, who made her fortune through the Ultimo lingerie empire, and husband Doug Barrowman, have said they did not oppose the order and were “were happy to offer up these assets”.

The National Crime Agency has been investigating the company PPE Medpro since May 2021, amid suspicions around government contracts to supply PPE during the pandemic.

The couple initially fiercely denied any involvement with the firm, but it has now emerged PPE Medpro is owned by a consortium involving Mr Barrowman, while Baroness Mone belatedly conceded they stood to benefit to the tune of £60m from the PPE deals.

The contracts were granted after PPE Medpro was placed in the government’s controversial VIP priority lane after a recommendation by Baroness Mone.

The peer, who was installed in the House of Lords in 2015, admitted in December that she had lied to journalists investigating the Medpro deals, but insisted: “That’s not a crime.”

The order restricting the assets was granted in December last year, and details have now emerged following a Financial Times report.

One of the assets is 4 Chester Square, a £7.7m Belgravia townhouse which was bought by a company linked to Mr Barrowman in 2020 and is reportedly now up for sale.

The FT says the property can still be sold, but the CPS must be notified with proceeds to be held in a UK bank account.

The couple’s Ballakew Estate on the Isle of Man is also covered by the order, together with properties in Glasgow, and bank accounts at Coutts, C Hoare & Co and Goldman Sachs.

In a statement responding to news of the order, Baroness Mone and Mr Barrowman said it follows “a consensual process during which negotiations took place with the CPS.

“It allows the wider businesses and assets of the Barrowman family to operate normally and free from any restrictions or uncertainties”, they said.

“Doug and Michelle did not contest the application and were happy to offer up these assets, which means they can begin the task of proving their innocence more quickly.”

They sat down last month for a set-piece interview with the BBC after sustained allegations about PPE Medpro and two deals in the pandemic worth £81m and £122m.

Baroness Mone said during the interview: “I don’t honestly see there is a case to answer. I can’t see what we have done wrong.”

Baroness Mone has taken a leave of absence from the House of Lords while investigations continue. They both deny any criminal wrongdoing.

The company is also facing a civil claim from the Department of Health and Social Care over allegations that surgical gowns provided were faulty and not fit for use.

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