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 is part of an inquiry into the company's transactions, following concerns from counterparties about falsified documents, as reported by Bloomberg.

Multiple major commodity traders have severed ties with Radiant World due to worries over the validity of the invoices and other documents the company provided to its banks. The Singapore police spokesperson confirmed that the investigation is ongoing, and no further details could be provided at this time. Radiant World did not comment on the matter, stating that they are cooperating with the relevant authorities and declining to comment further while the processes are ongoing.

The company has not been accused of any wrongdoing, and investigations do not always result in charges. The US Justice Department and Commodity Futures Trading Commission are also probing Radiant World and its creditors. Radiant World has previously denied any wrongdoing and reiterated its commitment to maintaining the highest commercial and legal standards.