EconomyJefferies Finds New Evidence of Fake Invoices at Troubled Fund

Jefferies says it has uncovered new evidence that invoices supporting its financing for iron ore trader Sapphire Minmetals Corp. are fake. The discovery follows an earlier review of the firm’s exposure to another iron ore trader, Radiant World. That review began after reports said documents supplied to financiers were not valid. The findings add to concerns surrounding the troubled fund’s financing records.