A fund linked to Jefferies is looking to extend a $499 million worldwide freezing order against Radiant World, the iron ore trading group facing fraud allegations, Bloomberg News reported on Thursday.

In court filings ahead of a Thursday hearing in London, lawyers for the Jefferies fund said Radiant World disclosed "enormously lower" cash and inventory levels than those shown in its most recent annual accounts, the report said.

Radiant World has revealed to the Jefferies fund's lawyers that it has hardly any cash left, according to the report.

Jefferies Financial Group did not immediately respond to MT Newswires' request for comment.

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