I don't know what it is, but doubt that it's a Raleigh. I'd ask that you check the seatpost diameter (should be stamped on the shaft) and the BB threading (should be numbers on the fixed or RH cup: 1.37" x 24 or otherwise) and if there's anything stamped on the dropouts...this may help confirm if the 531 decal is real or fake. Those decals usually were the first to perish, not the last...