MFS owner accused of ‘plundering’ company to fund ‘lavish lifestyle’
Administrators file lawsuit alleging at least £1.3bn ‘misappropriated’ from collapsed mortgage firm
Administrators file lawsuit alleging at least £1.3bn ‘misappropriated’ from collapsed mortgage firm

Creditors owed more than £2bn have made allegations of fraud at insolvent business

Investigation follows failure of Mayfair-based lender and linked companies owned by founder Paresh Raja

Collapsed Market Financial Solutions extended mortgages to entities tied to defendant in Michael Adams case

Some £238mn is unaccounted for by entities tied to UK bridge-loan provider, creditors allege in court filings

US private capital giant becomes latest financial institution to suffer from exposure to collapsed UK mortgage lender

Market Financial Solutions was complying with rules, law firm reported to UK regulator