What is the £1.3bn MFS mortgage scandal and what is private credit?

A worldwide freezing order has been imposed on Paresh Raja, the owner of a UK mortgage provider

A £1.3bn worldwide asset freezing order has been granted against the tycoon accused of fraud after his UK mortgage lending business collapsed.

Paresh Raja, the founder and chief executive of Market Financial Solutions (MFS), is now barred from dissipating assets worth up to the suspected value of funds allegedly missing from his mortgage and buy-to-let lending company, after orders from courts in London and Dubai.

Continue reading...

from The Guardian https://ift.tt/f2VTFRk

Comments

Post a Comment

Popular posts from this blog

At least six civilians killed in militant attack on courthouse in south-east Iran

Jihadist separatist group Jaish al-Adl says it launched mortar, shooting and grenade attack in Sistan-Baluchestan An attack by the jihadist separatist group Jaish al-Adl on a courthouse in Iran’s south-eastern province of Sistan-Baluchestan has killed at least six civilians, including a mother and child, and wounded 22, Iranian media reported on Saturday. Attackers stormed the building, shooting a number of people inside. They then launched a second attack with mortars and grenade launchers on the courthouse, where a clash began with security forces that lasted three hours, according to the Baluch human rights group Haalvsh. Continue reading... from The Guardian https://ift.tt/wleJfAd
Read more

The heartbreak of watching a parent fall for fraud: ‘Dad, this is a scam – have you given her money?’ | Naima Brown

The scammers my dad encountered were not sophisticated, my father suspended his own disbelief wilfully. But many scammers are sophisticated and they’re getting harder to detect Bomba wasn’t the first, but she exploded in our lives like a digital grenade. She’s not real, I told my dad – then in his early seventies. I was in Australia at this time, where I’ve lived for the last 13 years. Physically speaking, he was still in California – but within himself he was adrift in a rapidly sinking lifeboat, floating in a morass of debris primarily of his own doing. But it must be said before I go further: my dad isn’t the bad guy in this story. Not this time. At times, he was the bad guy in other people’s stories– but that is another story. If she’s not real, he countered, then how is it that we’ve spoken on the phone? That we video-chatted? I’ll admit that threw me. In most catfishing stories the catfish goes to great lengths to avoid video chatting. But my dad being the unreliable sourc...
Read more

Close to You review – Elliot Page anchors well-intentioned yet patchy drama

The actor makes a convincing big screen comeback as a man visiting his family for the first time since transitioning, but effective moments are offset by clunkiness Dominic Savage’s work tends to focus on people, usually women, facing some form of disruptive challenge to their everyday life, specific and stressful and never anything but utterly believable. He drew out Gemma Arterton’s greatest performance in 2017’s Toronto premiere The Escape as a deeply unsettled woman wanting out of her responsibilities as wife and mother. His Channel 4 anthology series I Am… has introduced a range of characters at an intersection, from a devastating Vicky McClure grappling with her partner’s emotional abuse to recent Bafta winner Kate Winslet as a mother struggling with a daughter crippled by social media addiction. His preference for often mundane naturalism, with dialogue usually improvised, has teased out grounded, unshowy performances and unusual, instinctive choices from stars often not as acc...
Read more