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Radiant World Sent Mizuho Fake Glencore Email, Court Filing Says

Bloomberg Markets •
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Glencore Plc told Mizuho Bank Ltd. that it believes Radiant World fraudulently generated email correspondence purporting to show the Switzerland-based commodities trader planned to pay back the Japanese lender nearly $100 million, according to a legal filing obtained by Bloomberg News. Details of the email exchange were outlined by Mizuho as part of a lawsuit in Singapore, where it has accused Radiant World of an alleged fraud linked to iron-ore receivables that Glencore appeared to owe Radiant. The bank is one of several lenders to have launched legal proceedings against Radiant World since Bloomberg in July first reported concerns that the trader had been raising money using falsified documents.