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It’s farewell to a radiant world, reports Bloomie.
Singaporean police raided the local office of iron ore trader Radiant World last week and questioned some of the company’s employees as part of an investigation into the business’s transactions after counterparties raised allegations of falsified documents.
A number of significant commodity dealers have severed their connections with the company due to worries that it gave its banks invalid invoices or other paperwork.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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