A Jefferies-run fund has alleged in a London court that iron ore traders Radiant World and Sapphire Minmetals fabricated legal and financial documents on an industrial scale in receivables-financing deals worth nearly $900 million. The claim, made in a September affidavit made public this week, expands a suspected fraud that may be one of the biggest in commodities since Enron. The companies deny wrongdoing.
Jefferies Fund Alleges $900M Fraud by Iron Ore Traders
Source: Moneycontrol