Glencore Alleges Radiant World Used Fake Invoices
Glencore confirmed evidence that Radiant World and associated firms sent falsified invoices and fabricated emails to financial institutions. The miner dismissed claims from the Singapore-based trader and plans to pursue action.
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GLENCORE PLC uncovered falsified invoices and fabricated emails sent by Radiant World to financial institutions, the miner said Tuesday afternoon. The discovery follows the company's decision over a month ago to cut all ties with the Singapore-based iron ore trader. The fallout exposes Glencore to financial risks and counter-claims from disputed trading partners.
