Financial Times FT.com

Japanese fund embroiled in Marubeni case

By Michiyo Nakamoto in Tokyo

Published: March 31 2008 19:13 | Last updated: March 31 2008 19:13

The alleged fraud over which Lehman Brothers is suing Japanese trading company Marubeni for Y35bn ($351m) claimed another victim as it emerged that FinTech Global, a Japanese boutique investment fund, had also failed to recover funds invested in the scheme.

FinTech said in a statement on Monday that it had invested Y2.2bn in a voluntary partnership related to Asclepius, a medical consulting group, which was to finance the purchase of devices for medical institutions and cover consultation fees.

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