Singapore police raid Radiant World office as fraud probe widens
Singapore police raided the local office of iron ore trader Radiant World last week and questioned employees as part of an investigation into allegedly falsified transaction documents, according to people familiar with the matter.
Several major commodity traders have cut ties with the company amid concerns that it provided invalid invoices and documents to banks, Bloomberg reports.
A spokesperson for the Singapore police said investigations were ongoing and further details were not available.
– With Bloomberg The Straits Times reports.