An investigation is underway into a favourite for the Grand National bought by Baroness Michelle Mone after the news that £75 million of assets have been frozen as part of a PPE fraud probe.
Monbeg Genius was reportedly bought by Mone for £80,000 in November 2020 as a second wedding present for husband Doug Barrowman, and is currently priced at around 20-1 for the famous race at Aintree in April.
But it has emerged the British Horseracing Authority is looking into whether the eight-year-old can compete while Mone and Barrowman’s assets are frozen thanks to a court obtained by the Crown Prosecution Service.
Monbeg Genius would bring home a £500,000 prize with victory in the National, at a time when the couple’s finances are under intense scrutiny.
The National Crime Agency has been investigating the company PPE Medpro since May 2021, amid suspicions around government contracts to supply PPE during the pandemic.
The couple initially fiercely denied any involvement with the firm, but it has now emerged PPE Medpro is owned by a consortium involving Mr Barrowman, while Baroness Mone belatedly conceded they stood to benefit to the tune of £60m from the PPE deals.
Contracts worth £81m and £122m were awarded to PPE Medpro during the pandemic, after the company was recommended for the government’s controversial VIP lane.
News broke last week about the freezing order, said to cover a £7.7m Belgravia property at 4 Chester Square, an estate on the Isle of Man, properties in Glasgow, and 15 bank accounts.
The BHA confirmed it “is aware of reports regarding a court order in relation to the assets of Michelle Mone and Doug Barrowman.
“We are in contact with the relevant individuals to understand what implication, if any, there are for their involvement with racing.”
The Daily Mirror said a senior member of the couple’s legal team had said Monbeg Genius is not covered by the freezing order, while representatives for Barrowman “have responded to the BHA and helped them with their questions”.
Mone, who made her fortune through the Ultimo lingerie brand and was installed in the House of Lords in 2015, and Barrowman have both publicly denied any criminal wrongdoing.
They say they and PPE Medpro are being “hung out to dry” to distract away from the way PPE was obtained by the government during the pandemic.
On top of the criminal investigation, the company is also being sued by the government over claims it supplied faulty surgical gowns as part of one of the PPE contracts.
Monbeg Genius is seen as a leading contender for the Grand National, which takes place on April 13, but trainer Jonjo O’Neill was quoted earlier this month that the horse is “still not right” and may not be ready for the famous race.
