DOJ and CFTC probe Singapore iron ore trader Radiant World

15 August 2026 · Source balance: Centre

The U.S. Justice Department and Commodity Futures Trading Commission are investigating Radiant World, a Singapore-based iron ore trader that has grown into one of the world's largest in the commodities market, handling roughly 75 million tons annually with annual turnover around 12 billion dollars. Investigators are examining allegations that the company provided banks with falsified documents related to iron ore trades to secure financing. The CFTC is separately scrutinizing trades and creditor relationships. Radiant World says it hasn't been contacted by either agency and denies wrongdoing, stating it conducts business to the highest standards. However, the company has faced swift fallout—major traders including Vitol, Cargill, and Glencore have suspended dealings with it. Banks including Deutsche Bank and KBC have frozen some accounts. Glencore reports exposure exceeding 500 million dollars. No charges have been announced, and investigations don't always result in criminal prosecution.