Lehman sues over $352m fraud

LOSSES & LAWSUITS

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.

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: