US judge authorizes fund to subpoena New York Fed for documents related to Radiant World

In a Manhattan federal court on Tuesday, Judge John Cronan granted an investment firm permission to request financial records from the New York Federal Reserve and the Clearing House Interbank Payments System. Mariner Atlantic Multi-Strategy LLC had filed a criminal complaint against Swiss-based iron ore trader Radiant World, prompting the subpoenas for payments documentation.

Judge Cronan determined that the requested records were not excessively intrusive or burdensome, as they pertained to specific accounts and a defined time period. The judge also deemed the subpoenas necessary, as Mariner was unable to acquire the required information through alternative means and Swiss courts were amenable to collaborating with their US counterparts. Radiant World declined to comment on the matter.