SINGAPORE – The Singapore Police Force has begun looking into Radiant World after receiving reports on the iron ore trader, a spokesperson said on Aug 20.
A Radiant World spokesperson was not immediately available outside European working hours.
The US Justice Department is looking into Radiant World’s business amid counterparty concerns that it provided banks with falsified documents related to iron ore trades, according to sources familiar with the matter.
The US Commodity Futures Trading Commission is also examining trades involving the company and its creditors, some of the sources said.
Radiant World has not been accused of wrongdoing and investigations do not always lead to charges. The company told Bloomberg late last week that it had not been made aware of any US investigations. BLOOMBERG
