Singapore police begin looking into iron ore trader Radiant World: Bloomberg
Firm recently said it had not been made aware of any US investigations
Singapore police have initiated an investigation into iron ore trader Radiant World following reports received on the company. A spokesperson for the police made this announcement on Thursday, August 20. Radiant World's spokesperson was not immediately available for comment outside of European working hours.
Both the US Justice Department and the US Commodity Futures Trading Commission are examining Radiant World's business operations. The inquiries stem from counterparty concerns that the company may have provided banks with falsified documents related to iron ore trades. The company has not been accused of any wrongdoing and investigations do not always result in charges. Radiant World informed Bloomberg late last week that it was unaware of any US investigations.
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Also reported by 2 other outlets
- Singapore Police Begin Looking Into Trader Radiant World bloomberg.com
- Singapore police looking into iron ore trader Radiant World businesstimes.com.sg
