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The human lesson of Nick Leeson's fraud

By John Gapper and Madsen Pirie

Published: February 17 2005 02:00 | Last updated: February 17 2005 02:00

Ten years ago today, Nick Leeson had lost £170m of his employer, Barings', money and was about to launch a trading frenzy on the Singapore futures exchange in a doomed effort to dig himself out of the hole. Ten days later, he had absconded and Barings had collapsed under £860m of losses.

These days, Mr Leeson (having served his time in Changi jail and recovered from cancer) makes a living from after-dinner speaking and sidelines such as playing online poker with anybody who wants to challenge a notoriously bad gambler. Despite the fact that he ruined the charitable foundation that owned Barings, he remains unabashed.

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