A Dubai housewife who flaunts her lavish lifestyle on social media is being bankrolled by her husband, a fraudster who fled the UK after filing for bankruptcy, MailOnline can reveal.
Malaikah Raja has over 1.5 million followers on social media and regularly posts videos of herself driving a brand new pink Mercedes G-Wagon, shopping for luxury items and receiving expensive beauty treatments.
She claims to receive a combined monthly living and shopping allowance of around £25,000 from her husband Mohammed Maricar, plus a further £160,000 a month from him towards payments on a number of properties she owns.
The couple live in a £2 million luxury home in an exclusive gated community in Dubai which they recently bought.
But a darker side to how Maricar made his money before the couple settled in the Gulf country and enjoyed untold riches can now be revealed.
In March 2021, he was fined by the High Court in London for providing illegal investment advice through his company 24HR Trading Academy, leaving his clients hundreds of thousands of pounds out of pocket.
The court found that his company provided fee-based advice to consumers on when to buy shares, commodities and currencies via WhatsApp, which was not permitted because it was not authorized by the Financial Conduct Authority (FCA).
Mr Maricar was ordered to pay £530,000, which was to be distributed to his clients.
Dubai housewife Malaikah Raja, who flaunts her lavish lifestyle on social media, is bankrolled by her fraudster husband Mohammed Maricar, who fled the UK after declaring bankruptcy.
Ms Raja regularly posts videos of herself driving a new pink Mercedes G-Wagon.
The couple has two children; a two-year-old boy (pictured) and a girl born last week
But he did not pay the sum that led to him being declared bankrupt in August 2022 after the FCA initiated proceedings against him.
But by September 2022, the official receiver was only able to recover just over £106,000, by which time Maricar had left the UK and moved to Dubai.
His Instagram profile reveals that he still enjoys 143,000 followers and describes himself as an “entrepreneur” and “trader/mentor.”
His profile says: “If you are interested in learning how to become profitable with trading, watch my FREE 1-hour trading webinar.”
It is accompanied by a link to the webinar that takes users to a page that says, “I can prove that it is possible to earn between $200 and $2,000 a day by working less than 90 minutes a day.”
On her Instagram profile, Raja describes herself as a “business mentor and educator” and also encourages her followers to register for a free 25-minute webinar.
But she also openly boasts about her luxurious life, courtesy of her husband’s generosity.
In a TikTok video, which begins with her getting into his pink G-Wagon, she gives a breakdown of the monthly allowances he gives her.
The mother-of-two claims to receive a monthly living and shopping allowance of £25,000.
He also receives a further £160,000 a month in payments on properties he owns.
The couple live in a £2 million luxury home in an exclusive gated community in Dubai which they recently purchased. In the photo: Mrs. Raja with her luxurious pink Mercedes G-Wagon
Mrs. Raja adds that for general food and date nights, her budget is “completely unlimited” because “my husband wants me to gain weight.”
While Raja lives a life of luxury, Maricar was fined by the High Court in 2021 for providing illegal investment advice through his company 24HR Trading Academy.
Mrs Raja has openly boasted of spending £12,000 a month on luxury and designer items.
This includes: around £4,000 for general purchases; £12,000 for luxury and designer purchases; £160,000 for the maintenance of properties you own; £800 for massages and £8,000 for makeup, skincare and hair and skin treatments.
Mrs. Raja adds that for general food and date nights, her budget is “completely unlimited” because “my husband wants me to gain weight.”
Despite being declared bankrupt in the UK, a video also showed the couple on a luxury shopping trip during a visit to London.
Mrs Rajah and Mr Maricar visit a Hermes store, where she buys two pairs of sandals, and then visit a Dior handbag boutique, for which she reveals she has an “unlimited budget”.
The couple has two children; a two-year-old boy and a girl, who was born last week.
In his latest video, Rajah films the family moving into a luxurious villa, which cost approximately £2 million and is surrounded by a garden with its own swimming pool.
In it, she reveals that the couple had a custom-made marble dining table made for their new home and films workers bringing in curtains, sofas and other furniture.
Following the High Court hearing in March 2021, when Maricar was fined, Mark Steward, the FCA’s executive director of market oversight and enforcement, said: “Neither 24HR Trading nor Mr Maricar were allowed to give investment advice. which, in this case, included sending commercial signals through social media and their conduct posed the risk of substantial losses to customers.
The FCA said just over £106,000 had been recovered from Mr Maricar despite him being ordered to pay £530,000 to disgruntled customers.
On her Instagram profile, Raja describes herself as a “business mentor and educator” and also encourages her followers to register for a free 25-minute webinar.
Despite being declared bankrupt in the UK, a video also showed the couple on a luxury shopping trip during a visit to London.
Maricar, who was ordered to pay £530,000 before leaving for Dubai, shows off his Rolex
“We urge consumers to ensure they are dealing with FCA authorized firms when seeking investment advice, including offers to provide tips or signals via social media apps, and to stay away from unauthorized operators such as 24HR Trading and Mr Maricar”.
Following the news that just over £106,000 had been recovered from it despite being ordered to pay £530,000 to disgruntled customers, the FCA said: “The FCA has adopted a strategy to ensure that the greatest amount of money is recovered possible for investors. .
“Once this process is completed, the FCA does not expect any further funds to be recovered.”
Mr. Maricar has been contacted for comment.