Michelle Mone and husband have £75m in assets frozen amid probe into PPE fraud allegations

26 January 2024, 11:51

Michelle Mone and her husband's assets have been frozen.
Michelle Mone and her husband's assets have been frozen. Picture: Alamy/Getty

By Jenny Medlicott

Michelle Mone and her husband have had £75m in assets frozen by prosecutors amid an ongoing probe into allegations of fraud.

Listen to this article

Loading audio...

The pair’s assets have been frozen or resrtained by a court order as they face an investigation by the National Crime Agency (NCA) into alleged PPE fraud.

Among the frozen assets are a six-bedroom central London townhouse, a country estate on the Isle of Man, and 15 accounts with Coutts, C Hoare & Co. and Goldman Sachs International, the Financial Times reported.

Lingerie tycoon Mone, 52, revealed late last year her bank accounts had been frozen following a two-year investigation by the National Crime Agency into allegations of fraud and bribery.

The allegations surround PPE Medpro - a company that the couple is close to - which was awarded more than £200m to supply the government with protective medical equipment amid the Covid-19 pandemic.

Medpro is accused of delivering faulty PPE to the government during the pandemic after it was awarded an £81 million contract in June and later a £121 million contract for surgical gowns.

Mone and Barrowman have both denied the allegations against them and say the gowns were supplied in accordance with the contract.

Mone and Barrowman's assets have been frozen.
Mone and Barrowman's assets have been frozen. Picture: Alamy

Read more: Failed asylum seekers 'waiting a year' to be sent back home, Yvette Cooper reveals

Read more: King Charles and Queen Camilla arrive at hospital ahead of his prostate treatment

The court order, which was issued in December, restricts Mone and her husband Douglas Barrowman from selling some of the assets and places restrictions on others.

A spokesman for the pair said of the order: “It allows the wider businesses and assets of the Barrowman family to operate normally and free from any restrictions or uncertainties.

“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.”

The UK government sued PPE Medpro for £122m plus costs for “breach of contract and unjust enrichment”.

The Crown Prosecution Service (CPS) applied for the court order on behalf of the NCA, which has been investigating the firm since May 2021.

Mone and her husband have denied the allegations.
Mone and her husband have denied the allegations. Picture: Alamy

It comes after Mone admitted last month that she had lied to the media when she denied having links to the firm.

The money went to financial trusts belonging to her husband Doug Barrowman, and she admitted she was a beneficiary of it. About £60m of profit went to the trusts.

And after admitting she had made an "error" in publicly denying a connection, she said lying to the press was "not a crime".

"I did make an error in saying to the press that I wasn't involved," she said.

Mone recommended PPE Medpro to the government’s fast-track procurement scheme during the early days of the pandemic, which led to its millions of pounds in profit.

Mone’s 6,000 sq ft home in central London, which features a sauna and steam room, is among the frozen assets, which she is trying to sell. The CPS has said it can be sold if they are notified in advance.

Nine other properties she owns in Glasgow, however, are not permitted to be sold. Although the order says any rental income from the properties is not restrained.

More Latest News

See more More Latest News

England players return home after Euros final heartbreak amid speculation over Southgate's future as Three Lions boss

England players return home after Euros final heartbreak amid speculation over Southgate's future as Three Lions boss

Spanish police reportedly carried on searching for the missing teen despite publicly calling off the search

How Spanish police 'discreetly' continued looking for Jay Slater's body after publicly calling off search

Live
The remains were found near Jay Slater's holiday rental

Live updates: Body found in Jay Slater hunt - Police recover young man's remains from village cliffside

Jay Slater Tenerife timeline: Hunt for missing British teen Jay Slater enters fifth day - here's what we know

Timeline of Jay Slater's disappearance: Everything we know as remains are found 29 days after he went missing

Human remains were found by police looking for missing Jay Slater

Human remains found 'in a very inaccessible area' by police searching for missing 19-year-old Jay Slater

Police have launched a new search for the body of Muriel McKay

'This is our last chance': Police launch new search to find Muriel McKay's body

Flight carrying hungover England fans from Euros makes emergency landing after 'undefined smell' wafts through cabin

Flight carrying hungover England fans from Euros makes emergency landing after 'undefined smell' wafts through cabin

The Prince and Princess of Wales have issued a new image

William and Kate hail 'inspirational' England team as they share photo of Charlotte and Louis watching Euros final

Married school chaplain banned from teaching over illicit relationship with ‘very vulnerable’ student

Married school chaplain banned from teaching over illicit relationship with ‘very vulnerable’ student

'Terrible shot': Trump gunman Thomas Matthew Crooks

Would-be Trump assassin tried to join school shooting club but was rejected for being a ‘comically bad’ shot

England manager Gareth Southgate leaving the team hotel in Berlin, Germany

They're coming home: Forlorn Gareth Southgate and England squad leave Berlin hotel after Euro's heartbreak

Thomas Matthew Crooks pictured in his high school year book from 2022

Thomas Matthew Crooks: Everything we know about the Trump gunman described as a 'bullied loner’

King Charles has sent a private letter to Donald Trump after he was shot in the ear

King Charles sends private message of support to Donald Trump after former president survives assassination attempt

Gareth Southgate after England's defeat against Spain

Gareth Southgate tipped for new honour as his future remains in the balance following Euro's heartbreak

Jay Slater's mother condemns 'vile' conspiracies in statement a month on from teen's disappearance in Tenerife

Jay Slater's mum slams 'vile' conspiracies a month on from teen's disappearance - as new search team land in Tenerife

Tributes have been paid to Shannen Doherty after her death from cancer aged 53

Tributes paid to Beverly Hills 90210 star Shannen Doherty as she dies aged 53 following breast cancer battle