Word: leesons
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...week before he disappeared, Nicholas Leeson kept throwing up in the bathroom at work. Colleagues didn't know why. He had been working hard, perhaps harder than usual. For two months, the security guard at his luxury apartment building in Singapore had been complaining about the noise from Leeson's computer printer. It was grinding out copy from 8 p.m. to 4 a.m.--the hours Wall Street did business 12 time zones away. During the daytime, the young Englishman appeared distracted, almost dour. In the trading pit of the Singapore International Monetary Exchange, where Leeson worked from dawn...
...Nicholas Leeson, whose speculating brought down Baring Bros. & Co., hopes British authorities will indict him so that he will not be extradited to Singapore, where he was working when he executed the trades. Leeson is being held in a German prison. His lawyer said he might give British authorities information that would lead to an arrest warrant for his client. University of Pennsylvania law professor Welsh White told TIME Daily that although he has never heard of a defense attorney seeking an indictment of his client, he understands why Kempf is doing so, since the British justice system...
Prof. John C. Coffee Jr. of the Columbia Business School, quoted in the New York Times (Mar. 5, 1995). Coffee was referring to the case of Nicholas W. Leeson, the 'rogue trader' who caused the bankruptcy of Barings P.L.C...
Trader Nicholas Leeson's stock gamble cost Baring Brothers & Co. $1.46 billion, $460 million more than previously estimated, the insolvent bank said today, as the Dutch ING Group agreed to take over Baring for a token one pound, or $1.65. Leeson, now in a German prison, is fighting extradition to Singapore, where he stands accused of forging a Wall Street executive's name on a document used as collateral for a loan to Baring. Says TIME London bureau chief Barry Hillenbrand: "A lot of people doubt that Leeson was this lone cowboy who just blew this bomb up inside, with...
Singapore authorities are on their way to Germany with an arrest warrant to seek extradition of the young stock trader whose extravagant gamble on the Tokyo market brought down Britain's oldest investment bank. Nicholas Leeson, a Briton who worked in Singapore, fled that country when his bet caused some $1 billion in losses for Baring Brothers & Co., after a drop in the Tokyo market last week. Police pulled him off a plane in Frankfurt last night and are detaining him. An extradition hearing before a judge is expected to take place tomorrow. TIME Bonn bureau chief Bruce Van Voorst...