Jefferies Financial Group (JEF) fund LAM Trade Finance Group II is seeking to extend a $499 million worldwide freezing order against Radiant World after the iron ore trader disclosed "enormously lower" cash and inventory levels than reported in its latest annual accounts, Bloomberg reported Thursday.

Radiant World Holding, the Hong Kong holding company, disclosed just $10,000 in cash, versus more than $200 million in its accounts for the year ended September 2025, according to the report. Radiant World's Singapore operating company reported $1.07 billion of assets, but more than $1 billion was in trade and other receivables that the Jefferies fund said could not be relied on, the report said.

Radiant World and related companies have reduced headcount and sold inventories since concerns over falsified documents were first reported in late July, Bloomberg said.

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

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