Michelle Mone has assets frozen amid National Crime Agency investigation

House of Lord member Baroness Michelle Mone has had assets of up to £75 million frozen over suspected criminal offences in the procurement of PPE contracts, ITV News Political Correspondent Shehab Khan explains

Baroness Michelle Mone, a peer at the centre of an investigation into suspected criminal offences in the procurement of PPE contracts, has had assets linked to her and husband Doug Barrowman frozen by the National Crime Agency.

The couple did not deny reports by the Financial Times, which said about £75 million of assets, including a townhouse in Belgravia and an estate on the Isle of Man, have either been frozen or restrained following an application by the Crown Prosecution Service.

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.”

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The Department of Health and Social Care (DHSC) is also engaged in breach of contract proceedings over a 2020 deal on the supply of gowns.

Lady Mone has previously admitted she lied when she denied having connections to the company, a consortium led by her husband, which was awarded contracts worth more than £200 million to supply gowns and face masks.

The lingerie entrepreneur stands to benefit from its £60 million in profits that have been placed into a trust by her husband.