Rohstoffskandal landet bei der Schweizer Justiz: US-Investor reicht Strafanzeige gegen Radiant World ein
Ein Finanzhaus aus New York beklagt den Verlust von 49 Millionen Dollar. Radiant wird des Betrugs verdächtigt. Auch der Rohstoffriese Glencore machte mit der kontroversen Firma Geschäfte.
A New York financial firm has filed a lawsuit against Radiant World, a metal trader based in Switzerland, for alleged fraud and money laundering. The case involves a loss of $48.6 million for U.S. investor Mariner, who claims Radiant engaged in fraudulent practices. Radiant, founded by Indian businessman Pinkesh Nahar, had offices in Singapore and Dubai.
Mariner has requested an investigation into Radiant's financial transactions, which are expected to be used as evidence in Switzerland. The international trade in iron ore and steel is a billion-dollar industry, and Radiant was one of the key players benefiting from rising demand in China. Radiant is accused of presenting forged documents to its business partners to finance its operations.
Several financial institutions, including Japanese bank Mizuho, have initiated legal proceedings against Radiant in Singapore, demanding $97 million and $103 million in losses, respectively. Radiant is currently under judicial administration by KPMG in Singapore. Many of Radiant's counterparties are based in Switzerland, including major commodity traders Glencore and Vitol.
Glencore has severed business ties with Radiant and launched an internal investigation, while the Zurich insurer has dropped coverage for Radiant. Radiant denies the allegations and claims adherence to the highest commercial and legal standards. The scandal has caught the attention of the Zurich Cantonal Bank and the commodity giant Glencore.
Written by urgent.news from NZZ Wirtschaft's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
