Lehman Brothers has filed a $350-million damage suit against the Japanese Marubeni trading company for fraud. Lehman claims that Marubeni employees helped secure a Japanese company for a loan.

Marubeni is claming that the employees acted on their own, that they are also victims, and so they should not be held liable for damages.

In early March, Marubeni fired two employees after discovering they had used a meeting room at the company’s office illicitly. Marubeni says the employees were used by the president of the LTT Bio-Pharma subsidiary in the alleged fraud, but were not directly involved in the document forgery. It did not provide details of what had happened in the meeting at its offices.

Any bets on how this will turn out?

Thanks to Vin Alsace