US Fund Seeks Fed Records in Radiant World Fraud Case
A federal judge allowed a US fund to seek payment records from the New York Fed as part of a fraud complaint against iron ore trader Radiant World. Mariner Atlantic alleges Radiant World falsified invoices to obtain millions in financing. The trader denies any wrongdoing.
United States District Judge John Cronan authorized a fund on Tuesday morning to subpoena payment records from the Federal Reserve Bank of New York regarding iron ore trader Radiant World. The ruling supports an ongoing fraud investigation across multiple jurisdictions. Mariner Atlantic Multi-Strategy LLC seeks records to recover $48.6 million in unpaid credit facilities.
