Former Conservative peer Baroness Michelle Mone is reportedly retaining around £15,000 per week in rent from a mansion subject to a freezing order.
Approximately two years ago, a court order froze assets totaling £75 million belonging to Mone and her husband as authorities looked into a deal involving the supply of PPE. However, the order has been adjusted to permit them to keep rental income from a £25 million property while the investigation continues.
The Belgravia mansion in central London is owned by an Isle of Man-based company linked to Mone’s husband, Doug Barrowman. The firm acquired the Grade-II listed property for £9.25 million in December 2020.
Permission was granted for renovations on the Belgravia residence, which include creating a basement cinema room and spa. The property had been listed for sale at £25 million.
According to The Times, Judge Tony Baumgartner, the Recorder of Westminster, authorized the amendment to the freezing order in a reportedly clandestine hearing at Southwark Crown Court. The judge clarified that the rental income from the property is not restricted, and there are no limitations on its use.
Mr. Barrowman’s consortium, PPE Medpro, secured a £122 million government contract for PPE supply during the pandemic. However, a High Court ruling in October compelled the company to repay the funds due to contract breaches.
Both Baroness Mone and Mr. Barrowman have refuted any allegations of misconduct and have not been charged with any offenses.
Last month, PPE Medpro, which reportedly owes £148 million to the Department of Health, was placed into liquidation at the Insolvency and Companies Court. Additionally, the company is said to have a £39 million debt to HMRC. Following the High Court judgment in October, Mone criticized the outcome as “shocking but all too predictable,” labeling it as a victory for the government in a case deemed too significant to lose.