Suspended : Dr Adam Osborne ( pictured ) was suspended by the GMC two weeks ago amid sex with patient allegations , and has now stepped down as director of the company he owns with his wife . The psychiatrist brother of Chancellor George Osborne has resigned from his private medical company , leaving it with assets of just £551 . Dr Adam Osborne , 38 , was suspended by the General Medical Council two weeks ago pending an investigation into allegations he had a two-year sexual affair with a vulnerable woman patient – a married mother of two with psychiatric issues . Now he has stepped down as a director of Elitemed , the private company he co-owns with his wife Rahala Noor , a plastic surgeon . The company recently filed accounts which showed it was worth just £551 , had £71 in the bank and owed creditors £7,337 . Documents also revealed Rahala Noor , 37 , who was previously secretary of the company , took over as the sole director . The couple each own 50 per cent of the company , but GMC rules mean Osborne can not practise as a doctor until an investigation into the allegations is concluded . If they are upheld he could be struck off , although the GMC says the current suspension is not an indication of guilt . Another firm called Devonport Psychiatry , which was registered to Osborne ’ s West London home , appears to have had its 0845 number disconnected since The Mail on Sunday revealed he had been suspended by the GMC . He has also taken down his personal website . Elitemed was set up in 2010 shortly after Osborne was suspended over earlier claims which centred on his relationship with a cocaine-addicted prostitute . At the time , the GMC said his ‘ relationship ’ with the woman had ‘ clouded his judgment ’ and led him to prescribe anti-psychotic drugs , dishonestly use a false name and fail to inform her GP . The doctor was also disciplined for prescribing contraceptive pills to Rahala – who was then his girlfriend – and an anti-smoking drug to a family member . Osborne married Noor in a Muslim ceremony in 2009 after he had converted to Islam and changed his first name to Mohammed . A news report about his conversion was last year hidden by Google after a request from an unknown person following a controversial ‘ right to be forgotten ’ ruling in the European Court of Justice . This gave people the right to have ‘ no longer relevant ’ items removed from internet searches . Probe : George Osborne 's brother can not practise as a doctor until the investigation is concluded . Osborne is the youngest brother of the Chancellor and one of four sons born to Sir Peter Osborne – who co-founded wallpaper company Osborne & Little . After studying medicine at Manchester University , he became a junior doctor at the city ’ s Wythenshawe Hospital , a job he was forced to quit after the allegations of handing out falsified prescriptions . He went on to practise as a private psychiatrist in Marylebone , Central London .
Dr Osborne suspended by General Medical Council two weeks ago . Probe launched into claims he had two year affair with vulnerable patient . Now stepped down as director of Elitemed , company he owns with his wife . Recently filed accounts reveal it was worth just £551 , with £71 in the bank .