Jefferies discovers fake invoices at Sapphire Minmetals financing
Jefferies Financial Group has received evidence that invoices used to support its financing arrangement with iron ore trader Sapphire Minmetals Corp. are fraudulent. This discovery raises serious concerns about the legitimacy of the underlying collateral and the fund's financial integrity.
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Jefferies Gets New Evidence of Fake Invoices at Beleaguered Fund
Jefferies Financial Group has received evidence that invoices used to support its financing arrangement with iron ore trader Sapphire Minmetals Corp. are fraudulent. This discovery raises serious concerns about the legitimacy of the underlying collateral and the fund's financial integrity.
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