British authorities freeze Paresh Raja's assets after accusing him of fraud. The collapse of his mortgage lender MFS may cause over £1.3 billion shortfall.
LONDON — British authorities issued a worldwide freezing order against Paresh Raja, owner of collapsed mortgage lender MFS, after accusing him of fraud.
MFS was a shadow bank that had assets totalling £2 billion before its collapse. The shortfall at the failed mortgage lender could surpass £1.3 billion.
Hundreds of high-end properties in London are expected to enter the market after the shadow bank's collapse.
The shadow bank had assets totalling £2 billion.
A boss of the shadow bank has been accused of fraud.
The boss has had assets frozen.
The owner of MFS, Paresh Raja, has been issued a worldwide freezing order.
Hundreds of high-end properties in London are expected to enter the market after the shadow bank's collapse.
The shortfall at the failed mortgage lender MFS could surpass £1.3 billion.
The MFS mortgage scandal is valued at £1.3 billion.
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