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Stock market scam

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Stock market scam

  1. 1. STOCK MARKET SCAMBy:AbhilashGaushithKrishna pratheekPawanPradeep
  2. 2. 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
  3. 3. NICK LEESON
  4. 4. CAREER he attended Parmiters 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).
  5. 5. DOWNFALL By the end of 1992, the accounts losses exceeded £2 million, which ballooned to £208 million by the end of 1994. Leeson pleaded guilty to two counts of "deceiving the banks 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.
  6. 6. 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.

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