Radiant World’s senior China trader quits as pressure builds

Radiant World's China office has seen its senior iron ore trader, Leon Jin, resign amid mounting pressure over alleged provision of falsified documents to banks. The veteran executive, who had been at the company for almost four years, departed on August 31, according to sources familiar with the situation. His exit comes after the company laid off several employees globally, though the China departure is the most notable in recent weeks.

Radiant World has faced scrutiny over its invoices, with at least five banks freezing its accounts or suspending credit lines, and some major miners and Chinese buyers withdrawing their business. Investigations are underway by law enforcement agencies, including the US Justice Department and the Singapore police, though Radiant World maintains it has not been implicated in any wrongdoing.