Leon Jin, Radiant World's senior China trader and head of iron ore, has quit the company as pressure builds over concerns regarding falsified documents provided to banks. Jin's departure follows reports that at least five banks have been told some invoices underpinning their exposure to Radiant World are not genuine. Several major miners and Chinese buyers have withdrawn their business, while some banks have frozen accounts or suspended credit lines.

The US Justice Department and Singapore police are investigating the trader. Radiant World has not been accused of wrongdoing, but the exit marks the most high-profile departure since Bloomberg reported in late July that major commodity traders were cutting ties with the company. His LinkedIn profile showed he had been at the firm for nearly four years, joining after a stint at Trafigura Group.