A fund managed by Jefferies Financial Group Inc. filed a $500 million lawsuit in London court accusing Radiant World of falsifying iron ore invoices in a “fraudulent scheme.” The lawsuit was filed at the end of August and prompted a judge to order a global asset freeze against Radiant World and its founders. However, the details of the allegations have not been disclosed before. This is one of the first times that one of Radiant World's major lenders has publicly filed fraud charges against them.

A fund managed by Jefferies Financial Group Inc. filed a $500 million lawsuit in London court accusing Radiant World of falsifying iron ore invoices in a “fraudulent scheme.” The lawsuit was filed at the end of August and prompted a judge to order a global asset freeze against Radiant World and its founders. However, the details of the allegations have not been disclosed before. This is one of the first times that one of Radiant World's major lenders has publicly filed fraud charges against them.