Mariner Atlantic Multi-Strategy LLC, managed by Mariner Investment Group, filed a criminal complaint in Switzerland against Radiant World and related entities, accusing them of fraud and money laundering. The US court filing states Radiant systematically falsified commercial documents to simulate transactions and obtain financing through fictitious trades, draining two $50 million revolving credit facilities. Mariner seeks wire transfer records and wants Swiss prosecutors to search premises and seize assets.

The complaint names Sapphire Minmetals Corporation SA, Radiant’s Geneva subsidiary, and founder Pinkesh Nahar. Radiant World denies wrongdoing and faces civil lawsuits from Singapore to London, with Singapore Police also investigating. Last week a Singapore court appointed KPMG restructuring executives after creditor Mizuho Bank accused the trader of fraud.