Singapore police raid Radiant World office as probe widens

Singapore police conducted a raid on the local office of iron ore trader Radiant World last week, questioning several employees, according to sources familiar with the investigation. The probe comes after some counterparties expressed concerns over allegedly falsified documents associated with the company. Multiple major commodity traders have severed ties with Radiant World due to fears that the firm provided invalid invoices or documents to its banks.

The Singapore police have stated that the investigation is ongoing and that further details are not available at this time. Radiant World has declined to comment on the matter, stating that they are cooperating with the relevant authorities and refusing to engage with the media while the investigation proceeds. The company has previously denied any wrongdoing and affirmed that it adheres to the highest commercial and legal standards.

The US Justice Department and the Commodity Futures Trading Commission are also scrutinizing Radiant World's transactions and those of its creditors, as previously reported by Bloomberg.