Business2 outlets
Jefferies Gets Evidence of Fake Invoices at Troubled Fund
Jefferies Financial Group has uncovered evidence of fraudulent invoices related to its financing arrangements with Sapphire Minmetals Corp., an iron ore trading company. The discovery of fake invoices raises questions about the authenticity of documentation used to support the financing and compounds existing concerns about the troubled fund.
Key takeaways
- 1.Jefferies discovered additional fraudulent activity involving fake invoices at Sapphire Minmetals Corp., a company it had financed
- 2.The fraudulent invoices called into question the validity of documentation supporting the financing arrangements
- 3.The discovery represents an escalation of existing problems associated with the fund
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