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BUSINESS
August 31, 1995 | Times Staff and Wire Reports
British Investigators Talk to Barings Trader: Jailed Barings bank trader Nicholas Leeson began talking to British fraud investigators, hoping to convince them that he deserves prison in Britain rather than Singapore, where he fears harsh treatment if convicted. The daylong session was held at Hoechst prison with two London police officers and an officer from the Serious Fraud Office, which investigates complex financial crimes in Britain.
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BUSINESS
December 2, 1995 | From Bloomberg Business News
A court sentenced Nick Leeson today to 6 1/2 years in prison for illegally covering up his futures trading losses that grew to $1.4 billion and sank Barings. Senior District Judge Richard Magnus said the 28-year-old Briton "spun a web of deceit" that was "deliberately designed to beguile" the Singapore International Monetary Exchange where he traded, and the auditors of Baring Futures, his employer.
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BUSINESS
December 1, 1995 | Times Staff and Wire Reports
Former Barings Trader Pleads Guilty: Nicholas Leeson pleaded guilty in Singapore to fraud and forgery charges in the trading scandal that led to the collapse of the merchant earlier this year. The plea came a week after the 28-year-old Briton was formally charged and ordered held in jail, where he was regularly interrogated by investigators of the Commercial Affairs Department, Singapore's fraud squad. Leeson pleaded guilty to two of the 11 charges filed against him by the department.
BUSINESS
December 1, 1995 | Times Staff and Wire Reports
Former Barings Trader Pleads Guilty: Nicholas Leeson pleaded guilty in Singapore to fraud and forgery charges in the trading scandal that led to the collapse of the merchant earlier this year. The plea came a week after the 28-year-old Briton was formally charged and ordered held in jail, where he was regularly interrogated by investigators of the Commercial Affairs Department, Singapore's fraud squad. Leeson pleaded guilty to two of the 11 charges filed against him by the department.
BUSINESS
March 9, 1995 | From Associated Press
Nicholas W. Leeson's lawyers want Britain to indict the former Barings trader blamed for the bank's collapse. It's an unusual strategy, they admit. "But it's an unusual case," attorney Eberhard Kempf said Wednesday. Extradition to Britain would get Leeson what he wanted when he was arrested March 2 at the Frankfurt airport en route from Malaysia: his return home to London and away from Singapore, where he could face up to seven years in prison.
BUSINESS
November 25, 1995 | Times Staff and Wire Reports
Nicholas Leeson Formally Charged With Fraud, Forgery: In his court appearance in Singapore, the former Barings trader did not enter a plea or request bond. He is now confined in a maximum-security cell. The 28-year-old Briton is accused of faking documents to hide unauthorized stock gambles that resulted in $1.4 billion in losses for the 232-year-old British bank, sinking it. Leeson could face 14 years in prison if convicted. Leeson's next court appearance is set for Dec.
BUSINESS
November 24, 1995 | From Associated Press
After spending 8 1/2 months in a German jail, securities trader Nicholas Leeson was returned here Thursday to stand trial in the $1.4-billion collapse of Barings bank. On the 12-hour Singapore Airlines flight from Frankfurt, Leeson, 28, was accompanied by his wife, Lisa, two attorneys and officials of Singapore's fraud squad. The in-flight movie was the crime film "Bad Boys."
BUSINESS
October 18, 1995 | From Associated Press
The collapse of Barings bank was precipitated by trader Nicholas Leeson, but "institutional incompetence" was ultimately to blame, the Singapore government said Tuesday. Citing the results of its inquiry into the collapse, the Finance Ministry said Barings showed a general lack of understanding of the futures trading business. The ministry said its inquiry, conducted by Price Waterhouse accountants, also found that Barings did not have enough internal controls. Barings collapsed Feb.
BUSINESS
July 19, 1995 | From Associated Press
Managers of Barings Bank, auditors and regulators all missed danger signals about trader Nick Leeson, whose losses brought down Britain's oldest merchant bank, an official inquiry reported Tuesday. The Board of Banking Supervision laid the major blame on Leeson, so far the only person facing criminal charges, but did not rule out the possibility that other Barings' employees or outsiders broke the law. The bank collapsed in February.
BUSINESS
November 25, 1995 | Times Staff and Wire Reports
Nicholas Leeson Formally Charged With Fraud, Forgery: In his court appearance in Singapore, the former Barings trader did not enter a plea or request bond. He is now confined in a maximum-security cell. The 28-year-old Briton is accused of faking documents to hide unauthorized stock gambles that resulted in $1.4 billion in losses for the 232-year-old British bank, sinking it. Leeson could face 14 years in prison if convicted. Leeson's next court appearance is set for Dec.
BUSINESS
November 24, 1995 | From Associated Press
After spending 8 1/2 months in a German jail, securities trader Nicholas Leeson was returned here Thursday to stand trial in the $1.4-billion collapse of Barings bank. On the 12-hour Singapore Airlines flight from Frankfurt, Leeson, 28, was accompanied by his wife, Lisa, two attorneys and officials of Singapore's fraud squad. The in-flight movie was the crime film "Bad Boys."
BUSINESS
October 30, 1995 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
The ignominious February collapse of Britain's oldest merchant bank was the stuff of gripping drama, its disappearance seemingly attributed to the hubris and blunders of a single ambitious young man operating from offices on this booming island nation. Not surprisingly, someone has concluded it would make a fine movie.
BUSINESS
October 18, 1995 | From Associated Press
The collapse of Barings bank was precipitated by trader Nicholas Leeson, but "institutional incompetence" was ultimately to blame, the Singapore government said Tuesday. Citing the results of its inquiry into the collapse, the Finance Ministry said Barings showed a general lack of understanding of the futures trading business. The ministry said its inquiry, conducted by Price Waterhouse accountants, also found that Barings did not have enough internal controls. Barings collapsed Feb.
BUSINESS
August 31, 1995 | Times Staff and Wire Reports
British Investigators Talk to Barings Trader: Jailed Barings bank trader Nicholas Leeson began talking to British fraud investigators, hoping to convince them that he deserves prison in Britain rather than Singapore, where he fears harsh treatment if convicted. The daylong session was held at Hoechst prison with two London police officers and an officer from the Serious Fraud Office, which investigates complex financial crimes in Britain.
BUSINESS
July 19, 1995 | From Associated Press
Managers of Barings Bank, auditors and regulators all missed danger signals about trader Nick Leeson, whose losses brought down Britain's oldest merchant bank, an official inquiry reported Tuesday. The Board of Banking Supervision laid the major blame on Leeson, so far the only person facing criminal charges, but did not rule out the possibility that other Barings' employees or outsiders broke the law. The bank collapsed in February.
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