Latest news with #BaronessMone
Times
22-06-2025
- Business
- Times
What happened to Michelle Mone's Dubai bitcoin property empire?
Baroness Mone's £250 million Dubai property project, hailed as the first major development to be sold using bitcoin, was never actually built, it has emerged. Mone, who was made a peer in 2015 for services to business, announced proposals to build two 40-floor skyscrapers complete with shopping centre and sports facilities. With her husband, Doug Barrowman, Mone announced in 2017 that the properties would be available to buy for virtual currency rather than cash. However, work on the site has been abandoned, despite claims from Mone and Barrowman that buyers had already invested in flats using cryptocurrency. 'I'm a baroness so I wouldn't be getting involved in it if it was a kind of 'dodgy' industry,' Monetold an American news network at the time. Yet, the Mail on Sunday reports, Dubai government records show that the couple's Aston Plaza and Residences, located in the Science Park district of the city, were never built. A property inspection report carried out by the Dubai Real Estate Regulatory Agency confirmed that the project started but was later 'cancelled' at just 32 per cent completion. Pictures taken by inspectors who visited the site in January 2018 show the concrete shell of one tower abandoned in the middle of the desert. Promotional mock-ups on the project's website showed sleek, minimalist homes set across two glass tower blocks. According to the development's website, 150 apartments were available to buy directly from the developers using bitcoin, a digital currency. It added: 'The highly anticipated selection of 1,133 studio, one and two bedroom apartments, is due for completion in summer 2019. Apartments offer floor-to-ceiling windows with unobstructed views of the Dubai Hills and the iconic city skyline.' The project was sold on to a Dubai-based developer. Representatives for Mone and Barrowman said that no one lost any money and all deposits were held in escrow, in accordance with the law in Dubai. In the UK the Scottish business couple are at the centre of an anti-corruption inquiry connected to the coronavirus pandemic which has led to £75 million of their assets being frozen by the National Crime Agency. Investigators are focused on PPE Medpro, a company led by Barrowman, which was placed in a VIP priority lane for government personal protective equipment contracts worth £203 million of taxpayers' money after a recommendation by Mone. The Department of Health and Social Care is suing PPE Medpro over claims that surgical gowns supplied by the firm were not fit for use. The government told the High Court in London recently that the company should pay back more than £121 million for breaching a Covid contract for 25 million of the gowns.
Daily Mail
21-06-2025
- Business
- Daily Mail
EXCLUSIVE Michelle Mone's £250 million Dubai property project was never finished and is now just a desert shell
's £250 million Dubai property project – hailed as the first major development to be sold using Bitcoin – was never actually built, The Mail on Sunday can reveal. In 2017, former lingerie tycoon Ms Mone, 53 – dubbed Baroness Bra after being awarded a peerage – and husband Doug Barrowman, 60, unveiled proposals to erect two 40-floor skyscrapers as part of a luxury desert complex boasting high-end homes, a shopping centre and sports facilities. To much fanfare, they said the apartments could be bought using virtual currency rather than hard cash. Within months they claimed that buyers had already invested in 'a number of apartments' using the crypto tokens. Ms Mone even told an American news network that Bitcoin (BTC) was 'the currency of the future', adding: 'I'm a Baroness – so I wouldn't be getting involved in it if it was a kind of 'dodgy' industry.' Yet Dubai government records show that the couple's Aston Plaza and Residences, located in the Science Park district of the Middle Eastern city, were never actually built. A property inspection report carried out by the Dubai Real Estate Regulatory Agency and obtained by The Mail on Sunday confirms that the project started but was later 'cancelled' at just 32 per cent completion. Pictures taken by inspectors who visited the site in January 2018 show the concrete shell of one mega tower abandoned in the middle of the desert. The images are a far cry from the promotional mock-ups that were advertised on the project's website, which showed sleek, minimalist homes set across two glass tower blocks. The revelation comes after the UK Government told the High Court in London recently that a company linked to Ms Mone and Mr Barrowman should pay back more than £121 million for breaching a Covid contract for 25 million surgical gowns. And earlier this month we told how the couple from Glasgow were offloading some of their British property empire as they look to start a new life in Florida. The Aston Plaza and Residences promised to offer 'exceptional real estate for discerning professionals and young families living in the United Arab Emirates', adding that the 'company's ethos is delivered through its meticulous attention to detail when creating homes'. A press release put out by the Aston team said that the project was the 'first joint business venture between the two business icons' Ms Mone and her husband, who is chairman of the Knox group of companies. According to the development's website, 150 apartments were available to buy directly from the developers using Bitcoin, a digital currency that fluctuates in value depending on market sentiment. It continued: 'The highly-anticipated selection of 1,133 studio, one and two bedroom apartments, is due for completion in summer 2019. 'Apartments offer floor-to-ceiling windows with unobstructed views of the Dubai Hills and the iconic city skyline.' The website added: 'The development also boasts the Plaza – three floors dedicated to retail which will include boutiques, cafes, restaurants and a supermarket.' Studio apartments started at 33BTC, which is the equivalent of almost £3 million if linked to today's sterling markets. Speaking to The Mail on Sunday in December 2017, Ms Mone, who founded the Ultimo lingerie brand, said she had already sold 'a number of apartments' to buyers using the cryptocurrency. Aston Towers, known as Project 152 in property databases, is listed as 'permanently closed' on Google. Records show that although the project was transferred to a different Dubai-based company around 2019, work on the development continues to be 'cancelled'. The Mail on Sunday recently told how Ms Mone and Mr Barrowman had sold two townhouses in Glasgow to celebrity friends in the last 12 months, pocketing a profit of £2 million. The new owners are Nick Haddow, the photographer who shot one of Ms Mone's most risqué Ultimo push-up bra campaigns, and Paul McManus – the drummer in Scots rock band Gun and a high-profile Scottish Labour Party donor. Meanwhile, a quaint Chelsea mews house in London linked to a company of Ms Mone's son Declan has been sold for £2.185 million to a senior member of a Middle Eastern royal family. Last year the couple also sold their £19 million London townhouse as well as their £6.8 million Lady M yacht. Ms Mone's friends say she has told them that she is seeking to start afresh in Miami. The Scots business moguls are currently at the centre of an anti-corruption PPE fraud probe which saw £75 million of their assets frozen by the National Crime Agency. Investigators are focused on PPE Medpro, a company led by Mr Barrowman, which was placed in a VIP priority lane for government contracts worth £203 million of taxpayers' money following a recommendation by Ms Mone. This came after Ms Mone was made a peer by Prime Minister David Cameron in 2015. The Department of Health and Social Care (DHSC) is suing PPE Medpro over claims that surgical gowns supplied by the firm were not fit for use. On June 11, Paul Stanley, KC, for the DHSC, told the High Court: 'The Government is seeking to recover the costs of the contract, as well as the costs of transporting and storing the items, which amount to an additional £8,648,691.' The Dubai property project was sold on to a Dubai-based developer. Representatives for Ms Mone and Mr Barrowman said that no one lost any money and all deposits were held in escrow, in accordance with the law in Dubai.
The Independent
12-06-2025
- Business
- The Independent
Baroness Michelle Mone-linked company must pay back £121m for ‘faulty' PPE, High Court told
A company linked to Baroness Michelle Mone should pay back more than £121 million for breaching a government contract for 25 million surgical gowns during the coronavirus pandemic, the High Court has heard. The Department of Health and Social Care (DHSC) is suing PPE Medpro for allegedly breaching a deal for the gowns, with their lawyers telling the court they were 'faulty' because they were not sterile. The company, a consortium led by Baroness Mone's husband, businessman Doug Barrowman, was awarded government contracts by the former Conservative administration to supply PPE during the pandemic, after she recommended it to ministers. Both have denied wrongdoing. The government is seeking to recover the costs of the contract, as well as the costs of transporting and storing the items, which amount to an additional £8,648,691. PPE Medpro said it 'categorically denies' breaching the contract, and its lawyers claimed the company has been 'singled out for unfair treatment'. Opening the trial on Wednesday, Paul Stanley KC, for the DHSC, said: 'This case is simply about whether 25 million surgical gowns provided by PPE Medpro were faulty. 'It is, in short, a technical case about detailed legal and industry standards that apply to sterile gowns.' Mr Stanley said in written submissions the 'initial contact with Medpro came through Baroness Mone', with discussions about the contract then going through one of the company's directors, Anthony Page. Baroness Mone remained 'active throughout' the negotiations, Mr Stanley said, with the peer stating Mr Barrowman had 'years of experience in manufacturing, procurement and management of supply chains'. But he told the court Baroness Mone's communications were 'not part of this case', which was 'simply about compliance'. He said: 'The department does not allege anything improper happened, and we are not concerned with any profits made by anybody.' In court documents from May this year, the DHSC said the gowns were delivered to the UK in 72 lots between August and October 2020, with £121,999,219.20 paid to PPE Medpro between July and August that year. The department rejected the gowns in December 2020 and told the company it would have to repay the money, but this has not happened and the gowns remain in storage, unable to be used. In written submissions for trial, Mr Stanley said 99.9999% of the gowns should have been sterile under the terms of the contract, equating to one in a million being unusable. The DHSC claims the contract also specified PPE Medpro had to sterilise the gowns using a 'validated process', attested by CE marking, which indicates a product has met certain medical standards. He said 'none of those things happened', with no validated sterilisation process being followed, and the gowns supplied with invalid CE marking. He continued that 140 gowns were later tested for sterility, with 103 failing. He said: 'Whatever was done to sterilise the gowns had not achieved its purpose, because more than one in a million of them was contaminated when delivered. 'On that basis, DHSC was entitled to reject the gowns, or is entitled to damages, which amount to the full price and storage costs.' In his written submissions, Charles Samek KC, for PPE Medpro, said the 'only plausible reason' for the gowns becoming contaminated was due to 'the transport and storage conditions or events to which the gowns were subject', after they had been delivered to the DHSC. He added the testing did not happen until several months after the gowns were rejected, and the samples selected were not 'representative of the whole population', meaning 'no proper conclusions may be drawn'. He said the DHSC's claim was 'contrived and opportunistic' and PPE Medpro had been 'made the 'fall guy' for a catalogue of failures and errors' by the department. He said: 'It has perhaps been singled out because of the high profiles of those said to be associated with PPE Medpro, and/or because it is perceived to be a supplier with financial resources behind it. 'In reality, an archetypal case of 'buyer's remorse', where DHSC simply seeks to get out of a bargain it wished it never entered into, left, as it is, with over £8 billion of purchased and unused PPE as a result of an untrammelled and uncontrolled buying spree with taxpayers' money.' He also said there was a 'delicious irony' that Baroness Mone was mentioned in the DHSC's written submissions, when she had 'zero relevance to the contractual issues in this case'. Neither Baroness Mone nor Mr Barrowman is due to give evidence in the trial, and Baroness Mone did not attend the first day of the hearing on Wednesday. A PPE Medpro spokesperson said the company 'categorically denies breaching its obligations' and will 'robustly defend' the claim. The trial before Mrs Justice Cockerill is due to last five weeks, with a judgment expected in writing at a later date.
Telegraph
28-05-2025
- Business
- Telegraph
The Rise and Fall of Michelle Mone, review: a portrait of how far shamelessness will get you
Depending on your point of view, The Rise and Fall of Michelle Mone (BBC Two) was either delicious schadenfreude or a vicious character assassination. Erica Jenkin's two-part documentary series was clear on where it fell on the lingerie entrepreneur turned Conservative peer – that Baroness Mone of Mayfair is a chancer, a Wonderbra Walter Mitty, a vainglorious cad whose success and morality is like the product that made her famous, all front. Yet Mone's supporters – and following the PPE scandal there can't be too many of those left – would suggest that the programme exaggerates its own assets. The first episode does a nice job of explaining where Mone came from – the girl from the unforgiving East End of Glasgow, forced to earn money for her family from the age of 10, who dropped out of school at 15 and was written off by her teachers. It is impossible not to be impressed by Mone, in her 20s and heavily pregnant with her third child, turning up at Selfridges in London and demanding that they stock her underwear. She'd convinced her husband to remortgage. 'I was either going to lose my house today or keep my house,' she said at the time. It was a shot at the moon. Nobody could fail to warm to this plain-speaking young woman from Glasgow, grasping the lads' mag/girl power energy of the 1990s and wedging herself into a male-dominated industry. A knack for PR – learnt from her days as a model and ring girl – helped to supply a steady stream of publicity for her company, Ultimo, and its enhancing bras. Yet the film dropped tantalising breadcrumbs – the brusque way she dealt with employees, the over-eagerness for publicity, the do-anything attitude. Perhaps too much was made of the Erin Brockovich lie – Mone repeatedly and falsely claimed that Julia Roberts's eye-catching cleavage in the Oscar-winning movie was thanks to Ultimo – but it showed Mone's devil's-bargain with the truth. Whatever it took, she'd succeed. Just watching Mone's physical appearance change as she grew more successful is fascinating – with every passing year, she appears more lacquered. By the second episode and Mone's PPE untruths – along with her husband Doug Barrowman, that she had nothing to do with Medpro PPE Ltd – it's clear the series has her pegged as a rogue. On this evidence, who could argue? Some of the accusations may not be slam-dunks, but they paint an unpleasant picture – the employment tribunals, the aggressive hounding of any journalist who asked questions, the obfuscation around PPE and the 'VIP lanes'. Others, however, feel mean-spirited. So what if she gilded her youthful admiration of Steve Wozniak when the Apple founder joined her cryptocurrency venture? The programme, smirking, points out that her autobiography never mentions Wozniak, but does mention Sylvester Stallone four times. Most damning, however, is the brouhaha that occurred when David Cameron made Mone a peer. 'She is a small-time businesswoman with a PR exposure far in excess of any actual success,' said businessman Douglas Anderson. Ultimo's accounts around 2011-2012, when Mone was constantly touted in the media as 'Britain's most successful female entrepreneur', back up Anderson's statement. Her success, if not a mirage, was vastly inflated. 'She is completely shameless,' said another contributor, 'and if you have no shame, you can get quite far.' The Rise and Fall of Michelle Mone is available now on BBC iPlayer and airs on BBC Two at 9pm on Wednesday 28 May
The Guardian
28-05-2025
- Entertainment
- The Guardian
TV tonight: the extraordinary story of the baroness and the Covid scandal
9pm, BBC Two'A cocktail of fame, lies, money, politics … and a national emergency.' In this two-part documentary, Laura Kuenssberg and other insiders tell the story of Baroness Mone of Mayfair – the lingerie entrepreneur who grew up in poverty in Glasgow, launched the Ultimo push-up bra, then went on to become a peer in the House of Lords and get embroiled in one of Covid's biggest and most expensive scandals. Hollie Richardson 8pm, BBC OneTo Ayrshire, where Tom, who has achondroplasia (a condition that affects bone growth), plans to restore a rare 1930s folding canoe so he can explore waterways with his daughter. Other items in need of care: a fragile glass pane inscribed by Robert Burns and handmade sporrans. Ali Catterall 8pm, Channel 4Married couple Lisa and Campbell have been living in New Zealand for 25 years but want to move back to the UK to be near family. Oxfordshire has too many options, apparently, as Lisa warms to every property they see. Time for some tough love from Kirstie and Phil. HR 8pm, BBC Three This week's main task involves helping grungy duo Nova Twins with their latest music video. But it is avant garde Canadian makeup influencer and guest judge Mei Pang who is greeted like a rock star by the remaining hopefuls. Graeme Virtue 9pm, BBC OneOn the sixth leg of this epic race across Asia, our remaining teams travel deep into western India – but also deep into the soul. Sisters Elizabeth and Letitia are inspired to connect by a prayer on the banks of Pushkar Lake, while Brian is pushed to contemplation by a case of the dreaded 'Delhi belly'. Ellen E Jones 9pm, Sky DocumentariesTony Blair and Bill Clinton contribute to the final instalment of this brilliant look at Frost's most famous and important interviews – concluding with his focus on the Middle East. It starts with the twentysomething Frost first meeting with the then Israeli defence minister Moshe Dayan in 1968 after the six-day war. HR Captain America: Brave New World (Julius Onah, 2025), Disney+ As the first big-screen outing for Anthony Mackie's Captain America, this Marvel instalment would benefit from some knowledge of previous superhero events. The plot also pivots round the Wolverine-tested metal adamantium, which is a source of conspiracy and conflict. But with actors of the calibre of the noble Mackie, plus Giancarlo Esposito and Tim Blake Nelson as the Cap's new foes, and Harrison Ford as dubious new US president Thaddeus Ross, the performances should more than compensate. Simon Wardell The Big Heat, 6.10am (Fritz Lang, 1953), Sky Cinema GreatsShe may only have a supporting role, but Gloria Grahame's sparky, witty turn as a gangster's girlfriend is the principal joy of Fritz Lang's propulsive 1953 crime drama. Headline name Glenn Ford is a solid presence as honest cop Dave Bannion, whose investigation into the suicide of a fellow officer leads him to a city mob boss. Bannion's persistent dog-with-a-bone riles the criminal's psychotic right-hand man Vince (Lee Marvin), with the latter's girl Debby (Grahame) among the collateral damage as the detective edges closer to the truth. SW
