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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1533 |
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Leeson created these profits through unauthorized activities, when he took proprietary position on SIMEX on both futures and option contracts. The bankruptcy of Barings Bank was due to one of its division, Barings Futures in Singapore, which was headed by Nick Leeson. Leeson was allowed to be in charge of both the front and back office...
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Leeson was allowed to be in charge of both the front and back office. In 1994, a mistake by one of the inexperienced trader in Leeson's team began a chain of events that led to his demise. As depicted in the movie as well, the woman lost about 20,000 pounds and Leeson created an error account, the infamous 88888 account, to cover up the loss...
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