Lehman May Be Victim of Fraud

TOKYO -- U.S. investment bank Lehman Brothers Inc. appears to have been a victim of a fraud in which swindlers used forged documents from one of Japan's biggest trading companies to bilk it out of as much as $250 million.

Late last year, a unit of the New York-based investment bank issued loans to a fund run by a medical consulting company owned by LTT Bio-Pharma Co., a Japanese biotechnology company based in Tokyo. The funds, ...