According to people familiar with the matter, a fund managed by Jefferies Financial Group Inc. has obtained an asset freeze order against Radiant World and its founder Pinkesh Nahar in Singapore. The ruling was handed down in a closed hearing in Singapore on Wednesday after Jefferies's fund had obtained a global asset freeze order against the same group of defendants in the London High Court. According to previous media reports, the fund filed a $500 million lawsuit in London court accusing Radiant World of falsifying iron ore invoices in a “fraudulent scheme.”

According to people familiar with the matter, a fund managed by Jefferies Financial Group Inc. has obtained an asset freeze order against Radiant World and its founder Pinkesh Nahar in Singapore. The ruling was handed down in a closed hearing in Singapore on Wednesday after Jefferies's fund had obtained a global asset freeze order against the same group of defendants in the London High Court. According to previous media reports, the fund filed a $500 million lawsuit in London court accusing Radiant World of falsifying iron ore invoices in a “fraudulent scheme.”