Singapore court freezes up to US$499m in Radiant World assets, caps founder’s spending at £4,000 a week新加坡法院冻结Radiant World高达4.99亿美元的资产，并将创始人每周支出上限设定为4000英镑。
SINGAPORE, Sept 12 — A Singapore court has frozen up to US$499.2 million (RM2.04 billion) in assets linked to iron ore trader Radiant World, while its founder Pinkesh Nahar has...
A Singapore court has frozen up to US$499.2 million in assets linked to Radiant World, with its founder restricted to £4,000 a week in living expenses.
LAM Trade Finance Group II LLC initiated the legal action, accusing the defendants of falsifying invoices in a fraudulent scheme valued over US$500 million.
Singapore police are investigating Radiant World, conducting a raid on its office last month, while major traders suspended dealings with the company over document falsification concerns.
SINGAPORE, Sept 12 — A Singapore court has frozen up to US$499.2 million (RM2.04 billion) in assets linked to iron ore trader Radiant World, while its founder Pinkesh Nahar has been restricted to £4,000 a week in living expenses under a worldwide freezing order.
The restrictions were disclosed in previously unreported court filings linked to a Singapore freezing injunction against Radiant World and Nahar, Bloomberg reported, citing documents relating to an earlier worldwide freezing order issued by a London court.
Sapphire Minmetals Corporation Ltd and its chairman Rakesh Sethi are also covered by the injunction, with Sethi subject to the same £4,000 weekly limit on living expenses.
A spokesperson for Radiant World and Sethi did not immediately respond to requests for comment.
The legal action was brought by LAM Trade Finance Group II LLC, a fund managed by Jefferies subsidiary Point Bonita, against Radiant World Corporation Pte Ltd, the group’s main Singapore operating company, its Hong Kong holding company Radiant World Holding Ltd, Nahar, Sapphire Minmetals and Sethi.
In the UK proceedings, Jefferies accused the defendants of falsifying iron ore invoices as part of what it described as a “fraudulent scheme”, with its claim valued at more than US$500 million.
The Singapore order prevents the defendants from removing, disposing of or reducing the value of assets in Singapore up to US$499.2 million.
The assets covered include Radiant World funds held at KBC Bank NV, Deutsche Bank AG, China CITIC Bank International Ltd’s Singapore branch, United Overseas Bank Ltd and Mizuho Bank Ltd, as well as Nahar’s personal assets at Nomura Singapore Ltd and Bank of Singapore Ltd.
The order allows the defendants to make reasonable payments for legal fees and continue dealing with their assets in the ordinary course of business.
Bloomberg reported in July that several major commodity traders had stopped dealing with Radiant World amid concerns that it had supplied falsified documents to banks to obtain financing, allegations the company denied.
Radiant World has said it conducts its business to the highest commercial and legal standards, while Singapore police are investigating the company and raided its Singapore office last month, Bloomberg reported.
Singapore is a key base for Radiant World, with the group’s main operating unit incorporated in the city-state.
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新加坡一家法院冻结了与 Radiant World 相关的高达 4.992 亿美元的资产，并限制其创始人每周的生活费为 4000 英镑。
LAM Trade Finance Group II LLC 提起诉讼，指控被告伪造发票，实施了一项价值超过 5 亿美元的欺诈计划。
新加坡警方正在调查 Radiant World 公司，上个月对其办公室进行了突击搜查，而主要贸易商也因文件造假问题暂停了与该公司的交易。
新加坡，9 月 12 日——新加坡一家法院冻结了与铁矿石贸易商 Radiant World 相关的高达 4.992 亿美元（20.4 亿令吉）的资产，同时根据一项全球冻结令，该公司创始人 Pinkesh Nahar 的生活费被限制在每周 4000 英镑以内。
据彭博社报道，这些限制措施是在此前未公开的法庭文件中披露的，这些文件与新加坡针对 Radiant World 和 Nahar 的冻结令有关。彭博社援引的文件显示，这些文件与伦敦一家法院早前发布的全球冻结令有关。
蓝宝石五矿集团有限公司及其董事长拉凯什·塞蒂也受到该禁令的约束，塞蒂的生活费每周同样限制在 4000 英镑以内。
Radiant World 和 Sethi 的发言人均未立即回应置评请求。
该诉讼由LAM Trade Finance Group II LLC（杰富瑞子公司Point Bonita管理的基金）提起，被告包括Radiant World Corporation Pte Ltd（该集团在新加坡的主要运营公司）、其香港控股公司Radiant World Holding Ltd、Nahar、Sapphire Minmetals和Sethi。
在英国的诉讼中，杰富瑞指控被告伪造铁矿石发票，这是其所称的“欺诈计划”的一部分，其索赔金额超过 5 亿美元。
新加坡的这项命令禁止被告转移、处置或减少其在新加坡价值高达 4.992 亿美元的资产。
所涵盖的资产包括 Radiant World 在 KBC Bank NV、德意志银行 AG、中国中信银行国际有限公司新加坡分行、大华银行有限公司和瑞穗银行有限公司持有的资金，以及 Nahar 在野村新加坡有限公司和新加坡银行有限公司的个人资产。
该命令允许被告支付合理的诉讼费用，并继续按正常业务流程处理其资产。
彭博社7月份报道称，由于担心Radiant World向银行提供虚假文件以获取融资，几家大型商品交易商已停止与该公司进行交易，但该公司否认了这些指控。
据彭博社报道，Radiant World 表示，其业务运营遵循最高的商业和法律标准，而新加坡警方正在调查该公司，并于上个月突击搜查了其新加坡办事处。
新加坡是 Radiant World 的重要基地，该集团的主要运营部门就设在这个城市国家。
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