STOCK MARKET SCAMBy:

Abhilash

Gaushith

Krishna pratheek

Pawan

Pradeep

INTRODUCTION

Nicholas "Nick" Leeson  born on 25th Feb 1967 at Watford

Was a Former Derivative broker whose fraudulent speculative trading caused collapse of Barings Bank.

It was a oldest bank and he prisoned for the fraud

NICK LEESON

CAREER

he attended Parmiter's School at Watford.

After finishng school he joined as a clerk with pvt Bank called Coutts.

He moved to Morgan Stanley in 1987 for 2 yrs.

Ended with Barings Bank.

In 1992 he was appointed as general manager new operations market on the Singapore International Monetary Exchange (SIMEX).

DOWNFALL

By the end of 1992, the account's losses exceeded £2 million, which ballooned to £208 million by the end of 1994.

Leeson pleaded guilty to two counts of "deceiving the bank's auditors and of cheating the Singapore exchange

Sentenced to six and a half years in Changi Prison in Singapore, he was released from prison in 1999, having been diagnosed with colon cancer, which he survived despite grim forecasts at the time.

 In 1999, the book was made into a film of the same name starring Ewan McGregorand Anna Friel.

TRADING JACKET

On 5 April 2007, the Guardian newspaper reported that KPMG, the liquidators of Barings PLC, had sold a trading jacket thought to have been worn by Nick Leeson while trading on SIMEX in Singapore.

On 5 April 2007, the Guardian newspaper reported that KPMG, the liquidators of Barings PLC, had sold a trading jacket thought to have been worn by Nick Leeson while trading on SIMEX in Singapore.