Jefferies Fund Seeks $499M Freeze in Second Invoice Fraud Scandal
Jefferies’ Point Bonita fund has secured a London court order to freeze nearly $500 million in assets linked to iron ore trader Radiant World and its founder, Pinkesh Nahar. This move follows allegations of invoice fraud and marks the second major crisis for the fund after its exposure to the collapsed First Brands Group. The freezing order targets Nahar, Radiant, and affiliated entity Sapphire Minmetals, threatening Nahar’s global luxury assets. Radiant and Nahar deny wrongdoing, while Jefferies faces ongoing lawsuits over its previous First Brands losses.