Tell Me Again Why ‘It Could Never Happen to You’
Saturday, March 29th, 2008According 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…)
