Sources familiar with the matter have revealed that the US Department of Justice and the US Commodity Futures Trading Commission are probing transactions involving Radiant World, a private company that has rapidly risen to become one of the world's largest iron ore traders.

According to insiders, officials from the Department of Justice are examining Radiant World's operations amid concerns that the company may have provided banks with forged documents related to iron ore trades. The sources requested anonymity due to the confidential nature of the investigation.

Some of the informed individuals have also stated that the Commodity Futures Trading Commission is reviewing transactions involving Radiant World and its creditors. On Thursday, Radiant World stated that it has not been contacted by either agency and is not aware of any investigation. The company has previously denied any wrongdoing, asserting that it conducts its business to the highest commercial and legal standards.

Radiant World has not been charged with any misconduct, and the investigation may not necessarily lead to charges. Representatives from the Department of Justice did not respond to requests for comment, and a spokesperson for the US Attorney's Office for the Southern District of New York declined to comment.

Owned by Pinkesh Nahar, Radiant World is relatively unknown outside the industry but has become a significant player in the iron ore market. Founded in 2003, the company initially focused on exporting iron ore from India before gradually expanding globally. It now operates offices in Singapore, Shanghai, Geneva, and Stamford, Connecticut, in the United States.