Glencore Confirms Radiant World Sent Falsified Invoices, Fabricated Emails
Glencore Uncovers Fraudulent Activities in Dealings with Radiant World
Evidence of Falsified Documents and Fabricated Communications
Sept 15 (Reuters) - London-listed miner Glencore said on Tuesday it had confirmed evidence that Radiant World and associated companies sent falsified invoices, contracts and fabricated emails purportedly from Glencore personnel to several financial institutions.
Termination of Business Relations
The comments come over a month after Glencore said it had stopped all business and exited all obligations with the Singapore-based iron ore trader.
Claims and Counterclaims
Radiant World and Sapphire Minmetals, another company that has reportedly attracted scrutiny over invoices, have said they hold significant claims against Glencore, which the miner dismissed as "without merit", adding that it would contest them vigorously.
Glencore's Response and Next Steps
Glencore said it had incurred losses and been exposed to risks through its dealings with the companies and would pursue appropriate action.
Reporting and Editorial Credits
(Reporting by Sri Hari N S in Bengaluru; Editing by Jonathan Ananda)
