Financial Times FT.com

Lehman sues Marubeni for Y35bn

By Michiyo Nakamoto in Tokyo

Published: March 30 2008 18:56 | Last updated: March 31 2008 06:51

Lehman Brothers filed suit on Monday against Marubeni, one of Japan’s biggest trading firms, for Y35bn ($352m) after the US bank fell victim to an alleged fraud perpetrated by two former employees of the Japanese group.

Lehman’s complaint, filed with the Tokyo District Court, aims to try to recover money lost in a complex scheme that potentially involved forged documents and a third man posing as a senior general manager of the Japanese firm.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this