Radiant World Sent Mizuho Fake Glencore Email, Court Filing Says
Glencore Plc last month told Mizuho Bank Ltd. that it believes Radiant World fraudulently generated email correspondence purporting to show that the Switzerland-based commodities trader planned to pay back the Japanese lender nearly $100 million, according to a legal filing obtained by Bloomberg News.
In a legal filing obtained by Bloomberg News, Mizuho Bank alleges that Singapore-based Radiant World fraudulently created e-mail correspondence, claiming Glencore planned to repay nearly US$100 million (S$127.6 million). The e-mail exchange was outlined by Mizuho as part of a lawsuit in Singapore, where Radiant World is accused of a fraud related to iron-ore receivables allegedly owed by Glencore.
The bank is one of several lenders to launch legal proceedings against Radiant World since July, when concerns emerged that the trader was raising funds using falsified documents.
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