Ex-Tory peer Michelle Mone has £75m in assets frozen

Nine Park Circus properties are said to have been restricted or frozen by the courts amid a fraud probe.

Michelle Mone has £75m in assets frozen amid National Crime Agency probe Getty Images

Michelle Mone and her husband have reportedly had £75m of assets frozen by court order, including nine properties in Glasgow.

The former Tory peer and Doug Barrowman are facing an investigation by the National Crime Agency over suspected criminal offences in the procurement of PPE contracts during the Covid pandemic.

PPE Medpro, a company owned by Barrowman, is being probed after it was awarded more than £200m in contracts to supply PPE to the NHS after Mone recommended it through the UK Government’s “VIP lane” in 2020.

The firm is also being sued by the UK’s Department for Health and Social Care.

Park Circus, Glasgow

According to the Financial Times, the asset freeze, obtained by the Crown Prosecution Service, includes properties in Glasgow – where Mone is from – as well as a townhouse in London, an estate on the Isle of Man and several elite bank accounts.

A spokesman for the couple said: “This comes as a result of 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.

“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.

“Mr Barrowman finds it deplorable that private matters such as this are being conducted in the public realm via leaks from government departments and the CPS.”

In December, the baroness admitted she did not tell the truth about her links to Medpro but insisted that she and her husband have “no case to answer”.

Mone insisted that lying to the media is “not a crime”.

She conceded she made an “error” in publicly denying her links to the firm.

The Ultimo bra tycoon admitted she is a beneficiary of her husband’s financial trusts, which hold around £60m of profit from the deal, but said the couple have been made “scapegoats” for the Government’s wider failings over PPE.

Lady Mone has repeatedly denied that she profited from the deal, which she first discussed with government ministers including Michael Gove.

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