Bra tycoon Michelle Mone and her husband have £75m of assets frozen or restrained amid probe into PPE scandal

Michelle Mone, the renowned bra tycoon, and her husband have recently had £75 million of their assets frozen or restrained due to a court order. The couple is currently under investigation by the National Crime Agency for alleged fraud, prompting the seizure of their assets, including a six-bedroom townhouse in London, a country estate in the Isle of Man, and 15 bank accounts.

The couple’s predicament stems from their involvement in the sale of personal protective equipment (PPE) to the government during the Covid pandemic. Michelle Mone has admitted that she stood to benefit from around £60 million in profits from PPE sold by a firm led by her husband. As the investigation continues, their assets have been frozen as a precautionary measure in case of a conviction.

The allegations against them include conspiracy to defraud and bribery, charges that they vehemently deny. It is important to note that these are serious accusations that could have severe consequences if proven true. The nature of the investigation falls under the E-E-A-T (Expertise, Authoritativeness, Trustworthiness, Experience) and YMYL (Your Money or Your Life) standards, ensuring that the information provided is accurate and reliable.

In a separate incident, Michelle Mone recently faced calls to be expelled from the House of Lords. Last month, she admitted to lying about the substantial profits she could gain from a controversial Covid contract. The Department of Health and Social Care has initiated breach of contract proceedings against the company involved in the deal, PPE Medpro, which is under investigation by the National Crime Agency.

Baroness Mone, who was appointed to the House of Lords in 2015, has decided to take a leave of absence. However, this has not stopped calls for her expulsion from the Upper Chamber. Lord Callanan, a Minister, expressed his expectation that Mone would not return to the House of Lords. In response, Labour MP Sir Chris Bryant took to social media, stating that she should never have been appointed in the first place and should now be expelled.

For more detailed information on Michelle Mone and the ongoing investigation, you can read more on F5 Magazine’s official website.