One of the most infamous stock-market traders who sent Barings Bank into bankruptcy was Nick Leeson. Leeson was a derivatives broker for Barings Bank in the early 1990s, based in Singapore. He was given the responsibility of trading on the Singapore International Monetary Exchange (SIMEX) and the Tokyo Stock Exchange.

However, instead of making sound investment decisions, Leeson engaged in risky and unauthorized trades that resulted in massive losses for the bank. He hid these losses by creating fake accounts and falsifying documents to cover his tracks. By the time his fraudulent activities were discovered, Barings Bank had incurred losses of over $1.3 billion, leading to its collapse in 1995.

Leeson's actions not only brought down one of the oldest and most prestigious banks in the UK but also raised serious questions about the lack of oversight and risk management within the financial industry. His story has since been the subject of books, documentaries, and even a feature film starring Ewan McGregor.

If you want to learn more about Nick Leeson and the downfall of Barings Bank, you can check out these resources:

• Nick Leeson - Investopedia
• The Fall of Barings Bank - Financial Times
• Barings Bank Collapse - BBC News

It's essential to remember the cautionary tale of Nick Leeson and Barings Bank as a reminder of the potential consequences of unchecked greed and unethical behavior in the financial sector. By learning from past mistakes, we can work towards a more transparent and accountable financial system.

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