12:53 PM EDT, 04/23/2026 (MT Newswires) -- (Updates to add statement from Santander)

Missing cash at Market Financial Solutions appears to have been "fraudulently circulated"around companies tied to the failed mortgage lender, Barclays (BARC.L) alleged in court.

Bloomberg News reported Thursday that Barclays presented its arguments as it contested a court-granted request to release funds from the frozen bank account of Trident Funding, a vehicle backed by Spanish lender Banco Santander (SAN.MC, BNC.L) that allegedly sent 235 million pounds sterling to a company wholly owned by MFS founder Paresh Raja.

Another business owned by Raja also reportedly sent 92.9 million pounds to Trident Funding, according to written arguments presented by Barclays in court.

Banco Santander had no comment, while Barclays and MFS did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)