Fugitive trader faces extradition and jail

Article Abstract:

A jail sentence of up to 30 years could follow the extradition to Singapore and trial of Nick Leeson, the trader who is thought to have brought about the collapse of merchant bank Barings. Further controversy surrounds the case as it emerges that senior Barings staff apparently tried to cover up the risks surrounding the bank's Singapore operations. Leeson is now expected to fight moves to have him extradited to Singapore, where the sentence for fraud is much longer than in the UK.

Cases, Fraud, Leeson, Nicholas W.

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Barings denies incompetence and negligence

Article Abstract:

The Treasury Committee which is currently investigating the collapse of merchant bank Barings has been very critical of former chairman Peter Baring, accusing him of negligence and incompetence. He has denied this, stating that he believes that top managers at the bank were performing well. He has rejected claims that he failed to uncover the activities of Singapore trader Nick Leeson.

Merchant banks, Barings, Baring, Peter

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