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Lehman Sues Japan Firm, Claiming $350 Million Fraud (WSJ)
There’s a million ways to lose money. Here’s one of the more interesting ones we’ve been paying attention to. Lehman claims that employees of a Japanese firm fraudulently bilked Lehman out of $350 million. Their method of action: using official company documentation to suggest that it was behind a hospital refurbishment funding project. Turns out the Japanese company Marubeni Corp had no idea about it. So now Lehman is suing for its cash back. Whether they get it back or not, you have to figure that Lehman’s counterparty (so to speak) in this fraud, must’ve had a damn good idea about how this whole process works to pull something like this off.
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31 Marzo, 2008| Economy |
@ 13:14
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