Barclays PLC says MFS funds may have been fraudulently circulated ahead of Q1 results
Barclays alleged missing funds at failed lender Market Financial Solutions were fraudulently circulated among related firms, according to Bloomberg. MFS entered administration in February after creditors claimed financial irregularities, with court documents showing only £230 million in collateral for £1.16 billion in loans. Barclays is owed £495 million. UK regulators are investigating, with creditors facing a shortfall over £1.3 billion.
