{
  "id": 5728579,
  "title": "Jefferies-linked fund has almost US$500 million exposure to trader Radiant World, FT reports",
  "url": "https://urgent.news/2026/09/05/jefferies-linked-fund-has-almost-us-500-million-exposure-to-trader",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-05T06:20:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/companies-markets/jefferies-linked-fund-has-almost-us500-million-exposure-to-trader-radiant-world-ft-reports"
  },
  "original_language": "en",
  "account": "A Jefferies-linked fund, LAM Trade Finance Group II, holds nearly US$500 million in exposure to iron ore trader Radiant World, according to the Financial Times' report on September 5. Jefferies, a US bank, owns a minority stake in the fund, LAM Trade Finance Group II. The fund secured a freezing order from a London court against Radiant World's founder, Pinkesh Nahar, and Sapphire Minmetals, a subsidiary of Radiant World, citing a source familiar with the matter. The freezing order, reported to be for up to US$499 million by the Financial Times, significantly exceeds the US$300 million trade-finance-related exposure previously attributed to Jefferies through its Point Bonita fund. Point Bonita had garnered attention last year due to Jefferies' reported US$300 million exposure to bankrupt auto-parts maker First Brands Group. Jefferies and Radiant World have not yet responded to Reuters' inquiries about the allegations. The controversy surrounding Radiant World stems from doubts about the validity of invoices presented to its banks, allegations the company has vehemently denied, leading some counterparties and lenders to suspend or limit dealings with it.",
  "summary": "LAM Trade Finance Group II secured a freezing order from a London Court against Radiant World.",
  "key_points": [
    "LAM Trade Finance Group II holds nearly US$500 million exposure to Radiant World.",
    "Jefferies owns a minority stake in the fund.",
    "Freezing order issued for up to US$499 million."
  ],
  "editors_take": "This development suggests Jefferies' exposure to trade finance risks may be larger than previously known, potentially putting its financial stability at greater risk through its ties to LAM Trade Finance Group II.",
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Moneyweb",
        "title": "World’s unusually high dollar exposure risks fuelling selloff",
        "url": "https://urgent.news/2026/09/05/worlds-unusually-high-dollar-exposure-risks-fuelling-selloff",
        "published": "2026-09-05T02:00:20.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "Glencore was Radiant World’s ‘senior partner,’ executive says",
        "url": "https://urgent.news/2026/09/05/glencore-was-radiant-worlds-senior-partner-executive-says",
        "published": "2026-09-05T07:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}