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Saturday, May 17, 2008

Nick Leeson

Nick Leeson (born February 25, 1967) is a British investments trader whose actions caused the collapse of Barings Bank.

Leeson was arrested for his role in the collapse on March 2, 1995. He was charged with making very risky investments primarily in derivative securities on the Singapore Monetary Exchange (Simex) losing $1.4 billion of Barings Bank, the United Kingdom's oldest investment banking firm. He was sentenced to six and a half years in jail in Singapore. He was released from prison in 1999, having been diagnosed with cancer of the colon. Leeson returned to the United Kingdom and published an autobiography 'Rogue Trader' detailing his acts. The book was later made into a film of the same name starring Ewan McGregor and Anna Friel.



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