Forex

Top 10 most controversial of the world traders

10. Nick Leeson- trader who cost the company $ 1.3 billion.


Nick Leeson


Lisson – the most famous trader «RogueTrading» style. Already at the age of 28, he was the star of trading in 1992. Due to its continued success in the trade, he was appointed head of the department «BaringsBank» the bank’s financial operations in the Singapore Exchange.

The result of activity Lissoni become a significant loss for the company. Trading futures, options on the index «Nikkei», which Lisson led illegally (it filed false reports on progress), was the main reason for the bank’s multi-million dollar losses.

The worst moment for the bank came when Lisson set “short straddle” on the index, “the Nikkei”, which is the next day as a result of actions Lissoni collapsed – it happened all of a sudden. Losing money, Lisson tried to get them back, because constantly increases the risk of losing even greater amount. Such actions could not end happily, the bank was completely ruined in 1995.

The bank, which existed 230 years, has been completely bankrupt trader, and later «BaringsBank» was sold for only 1 British pound. Lisson punished for their actions – prison. But already in 1999 Lisson was released due to illness. Lisson is the author of the book “Aggressive Trader”, which became a bestseller, as the topic was filmed. SegodyaLisson holds the position of executive director of the club «GalwayUnited» in Ireland.

About the author

Ruslan