I have read many crimes in the world. But a white colour crime is far more interesting to me. Imagine a single man can lead a giant finance institution collapse.
Nick Leeson was a British trader who worked for Barings Bank in Singapore. The son of a plasterer worked his way up from a low-grade job to a star of Barings Bank who made about 10% of Baring's total profit for the year after his 1 year stay in Asia in 1993. Due to his success, he earned up to £130,000 - £150,000 of bonus and £50,000 of salary.
But his luck turned him down after economic impact of the earthquake in Kobe, Japan in 1994 which accelerated the downturn of the market and resulting a losses of more than £ 850 million for Barings Bank in 1995.
Leeson has caused Barings, the oldest of UK's merchant bank, collapsed and bought for £1 by a Dutch banking and insurance group ING.
More about Nick Leeson being jailed, his marriage, his sickness, his release and his updates.
