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The Guardian - UK
The Guardian - UK
Business
Simon Goodley

FCA investigates collapsed lender MFS amid £1.3bn mortgage scandal

MFS FCA Barclays
The FCA logo on an LED screen in the background while a silhouetted person uses a smartphone in the foreground
The FCA said it had ‘opened an enforcement investigation’ into MFS. Photograph: M4OS Photos/Alamy

The UK’s financial regulator has launched an investigation into Market Financial Solutions (MFS), the mortgage lender that collapsed last month amid allegations of fraud.

The move follows the granting of a £1.3bn worldwide asset-freezing order on MFS founder Paresh Raja on Wednesday, as creditors successfully gained court orders in London and Dubai barring the tycoon from dissipating assets.

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