A London court has frozen nearly $500 million in assets belonging to Radiant World, an iron ore trader, following allegations of falsified invoices. LAM Trade Finance Group II, a private credit fund linked to Jefferies, obtained this freezing order from London’s High Court. The fund’s total exposure to Radiant World and its affiliated entities has reached nearly $500 million, sharply up from the $35 million initially extended in 2021. The company, founded in 2003 by Pinkesh Nahar, trades over 80 million tonnes of iron ore annually and reported revenues of $9.6 billion. Several industry giants, including Vitol, Cargill and Glencore, have ceased business dealings with Radiant.
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