Barclays tied to $700m MFS loss amid questions over founder’s son‑in‑law on its payroll

Barclays is said to have lent about $700 million to Market Financial Solutions (MFS) and provided banking services as MFS later went into administration. The bank reportedly blocked some MFS transactions before freezing accounts. Adding intrigue, Barclays employed Rihan Dewan—son-in-law of MFS founder Paresh Raja and brother of Tiba Raja—as a high‑yield credit trader (not involved in the MFS loans), with insiders noting potential conflicts of interest. While no wrongdoing is proven, the story highlights scrutiny of ties between Barclays, MFS, and related family connections as Barclays’ stock slid and it signals a strategic shift away from investment banking.