A housewife from Dubai, who showcases her extravagant lifestyle on social media, is financed by her deceitful husband, who fled the UK following his bankruptcy, as uncovered by MailOnline.
Malaikah Raja boasts over 1.5 million followers on social media and frequently shares videos of herself driving a brand-new pink Mercedes G-Wagon, indulging in high-end shopping, and undergoing expensive beauty treatments.
She asserts that she receives a total monthly allowance for living and shopping amounting to nearly £25,000 from her spouse Mohammed Maricar, in addition to another £160,000 each month for expenses related to various properties she possesses.
The pair reside in a £2 million opulent residence within an exclusive gated community in Dubai, which they purchased recently.
However, a more sinister aspect of how Mr. Maricar amassed his wealth can now be disclosed, prior to their settling in the Gulf nation and reveling in unmeasured wealth.
In March 2021, the High Court in London levied a fine on him for illegally giving investment advice via his 24HR Trading Academy enterprise, which left clients significantly out of pocket.
The court determined that his company charged customers for consultation on when to buy stocks, commodities, and currencies via WhatsApp, an action that was unauthorized by the Financial Conduct Authority (FCA).
Mr. Maricar was mandated to repay £530,000, which was to be shared among his clients.
Dubai housewife Malaikah Raja, financed by husband Mohammed Maricar, a conman who escaped the UK after his bankruptcy.
Ms. Raja often shares videos of her driving the brand-new pink Mercedes G-Wagon.
The couple has two children; a two-year-old boy (depicted) and a baby girl born last week.
However, he neglected to pay the amount, resulting in his bankruptcy declaration in August 2022 after the FCA initiated proceedings against him.
By September 2022, the official receiver was only able to recover just over £106,000, by which point Mr. Maricar had evacuated the UK and moved to Dubai.
His Instagram account indicates that he maintains 143,000 followers and refers to himself as an ‘entrepreneur’ and ‘trader/mentor.’
On his profile, he states: ‘If you are keen on discovering how to become profitable through trading, watch my FREE 1hr Trading Webinar.’
This is supported by a link to the webinar directing users to a page claiming: ‘I can demonstrate that it is feasible to earn $200-$2,000/day Working less than 90 minutes/day.’
In her Instagram bio, Ms. Raja labels herself a ‘Trading Mentor & Educator’ and encourages her audience to sign up for a complimentary 25-minute webinar.
Simultaneously, she unabashedly showcases her opulent lifestyle thanks to her husband’s largesse.
In a TikTok clip, which begins with her entering her pink G-Wagon, she elaborates on the monthly allowances he provides.
The mother of two claims her monthly living and shopping allowance is £25,000.
Additionally, she receives another £160,000 monthly for her property expenses.
The couple resides in a £2 million luxurious house situated in an exclusive gated area in Dubai, recently acquired. Pictured: Ms. Raja with her elegant pink Mercedes G-Wagon.
Ms. Raja mentions that her budget for general meals and romantic outings is ‘entirely unlimited’ because ‘my husband desires me to gain weight.’
While Ms Raja enjoys an opulent lifestyle, Mr Maricar was penalized by the High Court in 2021 for illegitimately offering investment advice through his 24HR Trading Academy enterprise
Ms Raja has openly claimed that she spends £12,000 monthly on luxury and designer items
Her expenditures include: nearly £4,000 for general shopping; £12,000 for luxury and designer items; £160,000 for the upkeep of properties she possesses; £800 for massages, and £8,000 for cosmetics, skincare, and hair and skin treatments.
Ms Raja states that her expenditure on groceries and romantic evenings has ‘no limits’ because ‘my husband wants me to gain weight.’
Despite her bankruptcy declaration in the UK, a video captured the couple indulging in a shopping spree for luxury items during their London trip.
Ms Rajah and Mr Maricar were seen at a Hermes store, where she purchased two pairs of sandals, then proceeded to a Dior shop for handbags, for which she discloses that she has an ‘unlimited budget.’
The duo has two offspring; a two-year-old son and an infant daughter, who was welcomed last week.
In her latest video, Ms Rajah showcases the family’s relocation to an extravagant villa valued at approximately £2 million, featuring a landscaped garden and a private swimming pool.
She reveals that the couple commissioned a bespoke marble dining table for their new residence and films workers delivering curtains, sofas, and other furnishings.
Following the High Court session in March 2021 when Mr Maricar was fined, Mark Steward, executive director of enforcement and market oversight at the FCA stated: ‘Neither 24HR Trading nor Mr Maricar had the authorization to provide investment advice, which, in this situation, involved sending trading signals through social media, and their behavior posed a significant risk of losses for clients.
The FCA reported that just over £106,000 had been retrieved from Mr Maricar despite the order for him to pay £530,000 to dissatisfied clients
On her Instagram profile, Ms Raja refers to herself as a ‘Trading Mentor & Educator’ and encourages followers to sign up for a complimentary 25-minute webinar
Despite being declared bankrupt in the UK, a video also showed the couple on a shopping trip for luxury goods during a visit to London
Mr Maricar, who was commanded to pay £530,000 before departing for Dubai, displays his Rolex
‘We encourage clients to ensure they are engaging with FCA sanctioned firms when seeking investment counsel, including those offering tips or signals through social media platforms, and to avoid unauthorized entities like 24HR Trading and Mr Maricar.’
Following the revelation that just over £106,000 had been obtained from him despite the fact that he was ordered to remit £530,000 to unsatisfied clients, the FCA declared: ‘The FCA has adopted a strategy to guarantee the maximum amount of funds are recovered for investors as feasible.
‘With this process now concluded, the FCA does not anticipate any additional funds being reclaimed.’
Mr Maricar has been approached for a statement.