Archive for the ‘Lehman Brothers’ Category

Tell Me Again Why ‘It Could Never Happen to You’

Saturday, March 29th, 2008

According to the Wall Street Journal, Lehman Brothers may have been defrauded in a $250 million swindle worthy of The Sting or The Spanish Prisoner.  At the center of the swindle are loans that Lehman made to a fund run by a medical consulting company owned by LTT Bio-Pharma Co.-a Japanese bio-tech company.  As security for those loans, Lehman believed that it received certificates from Marubeni Corp., one of Japan’s biggest trading companies.  Marubeni says otherwise.   (more…)

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