MFS founder blames Barclays for collapse, denies looting in $1.7B suit

Paresh Raja, founder of UK mortgage lender MFS, denies misappropriating funds, claiming Barclays triggered the firm's collapse by freezing accounts just before a planned sale or IPO. Liquidators are suing Raja for £1.3bn, alleging he diverted hundreds of millions for personal use. The case highlights potential financial misconduct and bank-firm dynamics in the UK lending sector.