Michelle Mone and husband Doug Barrowman have £75million worth of assets frozen

26 January 2024 , 23:57

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Michelle Mone and husband Douglas Barrowman (Image: Daily Record)

Around £75million of assets linked to Tory peer Michelle Mone and her husband Doug Barrowman have been frozen.

The pair are being investigated by the National Crime Agency for alleged PPE fraud during Covid. The court order covers assets including a £25million townhouse in Belgravia, Central London, and an estate on the Isle of Man.

It also covers bank accounts at Coutts and Goldman Sachs. Baroness Mone and Mr Barrowman are at the centre of a scandal – exposed by the Mirror – involving £200million of PPE contracts awarded to PPE Medro in 2020. The Department for Health is suing the company for more than £130million over unsterile gowns. PPE Medpro is fighting the claims.

Baroness Mone has said she regrets lying about her links to the firm but insists she and her husband did nothing wrong.

The couple accept £65million in profits from PPE Medro was moved to trusts and accounts linked to Mr Barrowman, and Baroness Mone and her children stand to benefit. The court order, reported by the Financial Times, bars the pair from selling some assets and put restrictions on others. It follows an application by the Crown Prosecution Service under the Proceeds of Crime Act. A spokesman for the couple said: “Doug and Michelle did not contest the application and were happy to offer up these assets.”

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But Baroness Mone tweeted: “It’s ridiculous that private and confidential matters continue to be leaked from Govt sources…”

It comes after the Mirror revealed the pair were having an £80million firesale of other properties, along with the Lady M yacht for under £7million and a £7.5million private jet.

Last month, the couple told the BBC they had been made “scapegoats” for the Government’s wider failings on PPE.

Nick Sommerlad