Radiant World Accused of Sending Lender Fake Glencore Deals, Lawsuit Says
London: Commodity trading firm Radiant World has been accused in a lawsuit of providing a lender with allegedly fabricated documents relating to business deals involving global commodities giant Glencore, raising fresh concerns over due diligence and financing practices in the commodities trading sector.
According to court documents filed in Singapore, Incomlend Pte., an invoice-financing platform, alleged that Radiant World used invoices linked to Glencore that had already been paid, along with allegedly non-genuine underlying contracts, to obtain $31.7 million in financing. The lender is seeking more than $34 million in damages from Radiant World, its founder Pinkesh Nahar and others named in the case.
Radiant World Accused of Using Fake Glencore Deals to Secure $31.7 Million Financing
Singapore: Iron ore trading firm Radiant World is facing serious allegations in a lawsuit filed in Singapore, with a lender claiming the company used allegedly false Glencore-related trade documents to secure millions of dollars in financing.
According to the court filing, Singapore-based invoice-financing platform Incomlend provided $31.7 million in financing in May 2026 against two invoices presented by Radiant World. The invoices were reportedly represented as unpaid amounts due from commodities giant Glencore.
However, when Incomlend later approached Glencore for payment, it was allegedly informed that the invoices had already been paid and that the underlying contracts were not genuine, according to the lawsuit.
The legal action marks a significant escalation in the growing crisis surrounding Radiant World, which has come under scrutiny in recent months over concerns regarding the validity of trade documents submitted to lenders and business partners.
Incomlend is seeking more than $34 million, including damages, in its legal action. The case names Radiant World, its founder Pinkesh Nahar, and other individuals connected to the alleged transactions. A hearing is scheduled for October 13, according to reports.
Radiant World has previously denied allegations of wrongdoing, describing claims against it as inaccurate and unsubstantiated and maintaining that it conducts its business according to high commercial and legal standards. The company had not immediately commented specifically on the latest allegations, while Glencore also declined to comment on the court filing.
The company is already facing mounting legal and financial pressure. Major commodity trading firms and lenders have reassessed or restricted their relationships with Radiant World, while the company has also faced other lawsuits and regulatory scrutiny. A Jefferies-linked fund recently obtained a freezing order against Radiant World and its founder in London, adding to the company’s legal challenges.
The case highlights the risks associated with trade finance, where lenders often rely on invoices, contracts and shipping documents as security for funding. The allegations against Radiant World are yet to be proven in court, and the legal proceedings are continuing.