In which country was Nick Leeson when his unauthorised trades on the futures market brought about the collapse of Barings Bank?
Nick Leeson denied a broker's licence in the United Kingdom because of fraud on his application. Neither Leeson nor Barings disclosed this denial when Leeson applied for his licence in Singapore. From 1992, Leeson made unauthorised speculative trades that at first made large profits for Barings: £10 million, which accounted for 10% of Barings' annual profit. He earned a bonus of £130,000 on his salary of £50,000 for that year. However, Leeson's luck soon went sour and he used one of Barings' error accounts (accounts used to correct mistakes made in trading) to hide his losses. The account was numbered 88888. Leeson
£830,000,000 – Nick Leeson and the Fall of the House of Barings £830,000,000 – Nick Leeson and the Fall of the House of Barings Inside Story Special: £830,000,000 – Nick Leeson and the Fall of the House of Barings, sometimes referred to as 25 Million Pounds, is a 1996 British television documentary by filmmaker Adam Curtis. It details the collapse of Barings Bank in the mid-1990s due to the machinations of Nick Leeson, who lost £827 million ($1.3 billion) primarily by speculating on futures contracts. The film describes Barings as one of the oldest and most prestigious merchant banks in Britain, run by the same family for decades with extensive ties to