Michelle Mone’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.’
