UK mortgage lender Market Financial Solutions (MFS) entered administration in February 2026.
Administrators accuse founder Paresh Raja of the systematic plundering of at least £1.3 billion ($1.7 billion). Raja allegedly used these funds to support a lavish lifestyle and purchase numerous luxury cars.
The scheme reportedly involved double-pledging, where Raja used the same properties as collateral for multiple loans from different lenders. A worldwide asset-freezing order now applies to Raja, who denies the allegations.