Lehman sues over $352m fraud
TOKYO - US investment bank Lehman Brothers is suing Japanese trading house Marubeni over an alleged $352 million fraud involving impostors working within the Tokyo firm and documents that Marubeni says were forgeries.
Fraudsters reportedly staged a fake meeting, gaining access to a Marubeni meeting room, from which they defrauded Lehman using faked documents, with one man posing as a Marubeni chief executive.
Lehman has filed a lawsuit through Japanese courts to recoup its losses. Marubeni has contested the lawsuit, saying it had nothing to do with the fraudulent acts, although it has sacked a number of employees.
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