Tory peer Michelle Mone's home has been raided by police investigating a firm for £203 million of Covid PPE government contracts, it has been claimed. 

Lady Mone, 50, is believed to have been present at an address that was searched by officers from the National Crime Agency, who raided homes and offices in London and the Isle of Man.  

Lady Mone has a £25million estate on the Isle of Man, as well as a home in Belgravia. It is unclear which address police visited. 

Officers are said to have been searching for documents that could assist an inquiry into suspected fraud offences. No arrests are believed to have been made.  

The Isle of Man police confirmed that it took part in co-ordinated raids on Wednesday.

A spokesperson told The Mirror: "The Isle of Man Constabulary, in support of an ongoing NCA investigation, executed search warrants at four addresses in the Isle of Man. No arrests were made."

Lady Mone, from Glasgow, has denied any involvement with a company called PPE Medpro, which was given government contracts along with another firm.  

However, it was revealed that she referred PPE Medpro to the officer of fellow Tory peer Theodore Agnew, who at the time was a Cabinet Officer minister responsible for the procurement of PPE. 

The NCA is currently investigating the award of contracts for supplying surgical gowns and masks to the NHS. 

PPE Medpro appeared on the 'VIP Lane' list of companies given greater chances of a PPE contract. It was added to the list by Lord Agnew's office.  

The firm, which is based in the Isle of Man, was formed in May 2020.  

A few weeks later, it was given a contract to supply 25 million sterile gowns and masks. 

HeraldScotland:

Michelle Mone and husband Douglas Barrowman 

Lady Mone was linked to the company by the Guardian, however, she made clear she has no role in the company.  

In January it emerged she had been referred to the House of Lords Commissioners for Standards. 

Labour peer George Foulkes said Lady Mone had failed to fully disclose her business interests in PPE Medpro and asked the commissioners to investigate whether she had breached the rules against lobbying when she referred the firm to the Government. 

Lady Mone has repeatedly denied any association with the company, which she recommended to the Cabinet Office as a potential supplier in May 2020. 

Although she has no actual formal connections with the company, her denials have come under scrutiny thanks to publicly documented connections between Anthony Page, PPE Medpro's owner, and businesses run by Lady Mone and her husband, Isle of Man-based billionaire Doug Barrowman. 

Lady Mone is being investigated under several sections of the Lords' code of conduct, including a section saying peers 'must never accept or agree to accept any financial inducement as an incentive or reward for exercising parliamentary influence'.  

She is also being investigated under as section of the code saying peers 'must not seek by parliamentary means to confer exclusive benefit on an outside body or person (a) in which he or she has a financial interest (including by way of salary, fees, shareholding or other arrangement) or (b) in return for payment or reward'.  

HeraldScotland:

Lord Foulkes said Lady Mone had failed to fully disclose her business interests in PPE Medpro and asked the commissioners to investigate whether she had breached the rules against lobbying when she referred the firm to the Government. 

Mr Page, the sole owner of PPE Medpro, is a wealth management expert who works for Barrowman's Knox House Trust, part of the Knox Group of companies based on the Isle of Man, where Lady Mone and her husband live on a £25 million estate. 

In December The Mail on Sunday revealed Mr Page is the director of a firm that owns a luxury yacht, called Lady M, on which Lady Mone sailed around the Adriatic last summer. 

Mr Page is also the majority shareholder of Lady Mone's new business venture Neo Space, which operates spaces for rent in Aberdeen.  

Lady Mone founded lingerie brand Ultimo through parent company MJM International in 1996. 

She was made a life peer by David Cameron in 2015.