Singapore police are investigating iron ore trader Radiant World after reports raised concerns about the company's business practices. The Commercial Affairs Department, responsible for maintaining the integrity of Singapore's financial hub, confirmed the investigation to the Financial Times. Radiant World, which has rapidly grown into a major player in the global iron ore market, did not respond to requests for comment. Several banks and commodity traders, including Glencore and Vitol, have recently distanced themselves from the Singapore-based firm due to concerns over alleged fake documents, as first reported by Bloomberg. Radiant World has denied any wrongdoing.

Founded in 2003 in India and now run by Pinkesh Nahar from Singapore, Radiant World built its success on strong relationships with banks and a global network spanning China, India, the Middle East, Europe, and the US. However, some lenders have begun cutting ties in recent months. Last week, Bloomberg reported that the US Department of Justice and the Commodity Futures Trading Commission are also examining transactions involving Radiant World, though the company stated it was unaware of any investigation.

Singapore, a key shipping hub connecting Asia with the Middle East and Europe, has emerged as one of the world's most important commodities centers, hosting major trading houses and financial institutions.