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£1.3 Billion Asset Freeze Targets MFS Founder Amid Allegations

3/19/2026

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Summary

Story summary

A £1.3 billion asset freezing order targets Paresh Raja, founder of Market Financial Solutions (MFS).
Courts in London and Dubai bar the dissipation of assets and impose a travel ban.
Market Financial Solutions filed for administration in February.
Allegations suggest double pledging and that some loans may be unsecured.
Raja's lawyer says there was no intention to defraud and attributes the situation to misunderstandings.

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Story summary

A £1.3 billion asset freezing order targets Paresh Raja, founder of Market Financial Solutions (MFS).
Courts in London and Dubai bar the dissipation of assets and impose a travel ban.
Market Financial Solutions filed for administration in February.
Allegations suggest double pledging and that some loans may be unsecured.
Raja's lawyer says there was no intention to defraud and attributes the situation to misunderstandings.