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Market Chatter: DOJ, CFTC Probing Radiant World Deals Amid False Document Concerns

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The Justice Department and the Commodity Futures Trading Commission are investigating Radiant World's iron ore trades amid concerns that it provided banks with falsified documents, Bloomberg reported Friday, citing people familiar with the matter.

Jefferies Financial Group's (JEF) Point Bonita fund is reviewing its exposure to Radiant World, Bloomberg reported two weeks ago. Deutsche Bank (DB) and KBC Group have frozen some of Radiant World's bank accounts in Singapore, according to a separate Bloomberg report on Aug. 6.

The DOJ, CFTC and Radiant World didn't reply to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $54.92, Change: $-0.94, Percent Change: -1.68%

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