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Jefferies-linked fund says Radiant World may hold just $10,000 in cash

Source: reuters.com

Legal & LitigationCommodities & Raw MaterialsCompany Fundamentals
Jefferies-linked fund says Radiant World may hold just $10,000 in cash

Lawyers for a Jefferies-linked fund alleged that iron ore trader Radiant World may have only $10,000 of cash, despite its latest financial statements reporting more than $200 million in cash balances. The claim, made in litigation alleging fraud, raises significant concerns over the company's financial reporting, liquidity and asset verification.

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