I have a strong feeling, the movie will be called

I need a Miracle - Rogue Trader 2

Thank God he is not a Nigerians!

Jakumo:

You took the words right out of my mouth. This man is clearly a long lost cousin of Nigerian money laundering miracle pastor Eunuch Adejale Adebole. The two parted ways when Adebole Jr. refused to donate some of that stolen $2 billion for the purchase of another luxury jet for the fleet owned by his renegade fugitive uncle back home in Lagos.

what has Pastor Adeboye got to do with the news?

norrisman:

I have a strong feeling, the movie will be called

I need a Miracle - Rogue Trader 2

Thank God he is not a Nigerians!

Ghana paaa! 

dont be blinded guys,

It was a case of market trading gone bad, who gives ordinary employee (a non British for the matter) access to such an amount without monitoring,  If the guy had succeeded the bank would have kept quiet and declare profit. how did he rise to the position of being trusted with £2 billion? successful trading of course!

Q: What do you call a successful rogue trader?
A: Managing Director

Read The Story Of Nick Leeson and Understand what rogue trading is all about

In the early 1980s, Nick Leeson landed a job as a clerk with royal bank Coutts, followed by a string of jobs with other banks, ending up with Barings, where he quickly made an impression and was promoted to the trading floor.


A Young Nick Leeson

Before long, he was appointed manager of a new operation in futures markets on the Singapore Monetary Exchange (SIMEX) and was soon making millions for Barings by betting on the future direction of the Nikkei Index. His bosses back in London, who viewed with glee his large profits, trusted the whizzkid. Leeson and his wife Lisa seemed to have everything: a salary of £50,000 with bonuses of up to £150,000, weekends in exotic places, a smart apartment and frequent parties and to top it all they even seemed to be very much in love.

Barings believed that it wasn't exposed to any losses because Leeson claimed that he was executing purchase orders on behalf of a client. What the company did not realise is that it was responsible for error account 88888 where Leeson hid his losses. This account had been set up to cover up a mistake made by an inexperienced team member, which led to a loss of £20,000. Leeson now used this account to cover his own mounting losses.

As the losses grew, Leeson requested extra funds to continue trading, hoping to extricate himself from the mess by more deals. Over three months he bought more than 20,000 futures contracts worth about $180,000 each in a vain attempt to move the market. Some three quarters of the $1.3 billion he lost Barrings resulted from these trades. When Barings executives discovered what had happened, they informed the Bank of England that Barings was effectively bust. In his wake Nick Leeson had wiped out the 233 year old Baring investment Bank, who proudly counted HM The Queen as a client. The $1.3 billion dollars of liabilities he had run up was more than the entire capital and reserves of the bank.

Eventually arrested in Frankfurt, Germany, Nick spent a few fraught months trying to escape extradition to Singapore. He failed and in December 1995 a court in Singapore sentenced him to six and a half years in prison. Lisa his wife got a job as an airhostess to be able to visit him regularly. At first, their marriage survived the strain of being apart, but what Lisa could not abide were his revelations of his infidelity with Geisha girls and she divorced him. Within months, Leeson was diagnosed as suffering from cancer of the colon. His weight plummeted and most of his hair fell out from chemotherapy.

Finally released in 1999, and despite his return to the UK bringing a realisation that the high life had been swept away — he was effectively homeless and without a job — Nick enjoyed a fairly hedonistic first year seeing friends and family but also continuing his cancer treatment.

Nick Leeson has proved his resilience and has been able to capitalise on his experiences. He was paid a substantial fee for the newspaper serialisation of his book in The Mail. The story was then turned into a film, Rogue Trader, starring Ewan McGregor. During 2001 he undertook a Psychology degree and Nick now spends much of his time presenting talks to companies on Risk Management and undertaking after-dinner and conference speaking based on his life experiences.

With a psychology degree and a second marriage to Irish beautician Leona Tormay, (with her own children Kersty and Alex) after trying for a baby they were delighted when, in 2004, Leona gave birth to a baby boy. Nick comments; “I'm of the mindset that cancer must not take you over and control your life. I do believe that the more positive you are, the greater your chance of survival." his advice to others is never to bottle up stress as he himself did: "You need to talk and express yourself as I now do to Leona. With cancer as with other problems, it's amazing how adaptable human beings are, and you will be able to cope provided you keep a strong frame of mind."

In April 2005 Nick was appointed Commercial Manager of Galway United Football Club, rising to the position of General Manager in late November 2005. The same year Nick published his second book Back from the Brink, Coping with Stress co-written with psychologist Ivan Tyrell. July 2007 saw his appointed as CEO of the football club where he remained in this position until his resignation in February 2011. Nick remains a shareholder of Galway United and continues to represent the club with the Football Association of Ireland.
http://www.nickleeson.com/biography/index.html

@Jakumo
You really need help.

Ohhhhh theyve broken my country ONLY guinness book of record feat. Wetin dey worry boys nau. Abeg wake up o. Ghana no fit overtake us for Kentro level too. Abeg leave pussy and go back to work jare.

his father who was involved as well as been arrested

@ Topic

I am offended by this! . . Seriously.

We are the giant of Africa! No one is supposed to beat us, even when it comes to fraud!

Thank God I am not a Ghananian.

DrummaBoy:

Thank God I am not a Ghananian.

Thank God i am a Nigerian ooh!

tlops:

dont be blinded guys,

It was a  case of market trading gone bad, who gives ordinary employee (a non British for the matter) access to such an amount without monitoring,  If the guy had succeeded the bank would have kept quiet and declare profit. how did he rise to the position of being trusted with £2 billion? successful trading of course!

Spot on,I have worked in this kind  of "high octane environment'' where you live life on the edge . This is the world of finance. Truth is somebody has  lost 1.3 billion and someone has gained 1.3 billion. From what, I have gathered from friends in London,  he is a high frequency trader trading on ETF (European Traded Funds) and he must have been making money for UBS so point is, they are using him as a fall guy.

I don't want to believe that he can consummate 'unauthorized transactions' to the tune of 1, 3 billion without any one knowing? What kind of risk management systems do they have there?

This guy obviously had plans of causing an earth kweku in Ghana with all this cash.

I feel for the guy, the bonus culture in banks needs urgent reforms but they've refused to address it. This chap has not stolen anyone's money but that is what most people are errorneously interpreting this to be. The first Rogue Trader Nick Leeson served only about a 4 years jail sentence and it was not for stealing money but for accounting malpractices in bringing down Baring's bank.
Great article up there by Richtalk.

SScapepegoat?


Why did his bos resign immediately


Shouldnt he be arrested as well?

Why they always associate fraud to being Nigerian? Human beings are human beings and people who want to be fraudulent will do so regardless of what part of the world they are from.





www.heal9ja..com

So these Mods come be wicked like this, see how dem fit seduce pipo enter thread wit the kain topic dem put for homepage

. . .e don happen. . .who is without sin . . . . ehen una know the rest . . .

duduspace:

I feel for the guy, the bonus culture in banks needs urgent reforms but they've refused to address it. This chap has not stolen anyone's money but that is what most people are errorneously interpreting this to be. The first Rogue Trader Nick Leeson served only about a 4 years jail sentence and it was not for stealing money but for accounting malpractices in bringing down Baring's bank.
Great article up there by Richtalk.

Exactly my thought. The only crime i have seen here is that he executed an ''unauthorised'' trading. However, had he been successful he would be rolling home with a lot of bonuses and promotion. He would have been tagged an astute analyst. Now that he failed, he's been called a ''rogue trader.'' So much for the world of finance.

no be forex the guy dey trade? abi NEPA take light and him no fit commot 4 trade abi na NETWORK problem.

Guy is originally Togolese, born in Ghana and naturalized in Britain.

dont be blinded guys,

It was a case of market trading gone bad, who gives ordinary employee (a non British for the matter) access to such an amount without monitoring, If the guy had succeeded the bank would have kept quiet and declare profit. how did he rise to the position of being trusted with £2 billion? successful trading of course!

Exactly my sentiments, it's just a case of trade gone bad. The guy is unluckily the fall guy

sleekman:

Guy is originally Togolese, born in Ghana and naturalized in Britain.

Confirm Scammer skarmar (pidgin accent)!

check this out: senior high school in Ghana is just fun. men!!! wow,  
https://www.youtube.com/watch?v=5HNWlnKhPDE   , CLICK THE LINK AND SEE THE THRILLS IN GH SHS.

ministergh:

check this out: senior high school in Ghana is just fun. men!!! wow,   
https://www.youtube.com/watch?v=5HNWlnKhPDE   , CLICK THE LINK AND SEE THE THRILLS IN GH SHS.

Hey Charlie, unless you intend teaching us Ghana's new scam style wey kweku dey use I will advice you GTFO of here now! Besides the dance is wack WACK as fnck!

well, this guy is just doing business as usual. i know him personally. he is a ghanian alright but i dont think his bosses dont know shit. Bleep them all

ministergh:

check this out: senior high school in Ghana is just fun. men!!! wow,   
https://www.youtube.com/watch?v=5HNWlnKhPDE   , CLICK THE LINK AND SEE THE THRILLS IN GH SHS.

Guy go jor, which kain dance be dis, they're dancing like they're trying to start a stubborn generator. their uniform sef be like ankara,

They are bring used as scape goats. The rules are not very clear. If the deals were succesful then it wouldnot be a problem. He just got over confident.

ministergh:

check this out: senior high school in Ghana is just fun. men!!! wow,  
https://www.youtube.com/watch?v=5HNWlnKhPDE   , CLICK THE LINK AND SEE THE THRILLS IN GH SHS.

waste of energy

phreakabit:

Confirm Scammer skarmar (pidgin accent)!

You should read this

http://en.wikipedia.org/wiki/Kweku_Adoboli

chamber2:

Exactly my thought. The only crime i have seen here is that he executed an ''unauthorised'' trading. However, had he been successful he would be rolling home with a lot of bonuses and promotion. He would have been tagged an astute analyst. Now that he failed, he's been called a ''rogue trader.'' So much for the world of finance.

Yes thats the only crime he committed . Some think he stole 2billion dollars, but thats not it.

Unauthorised trading. I spit at that definition.

Why are we Africans always quick to judge and crucify our own because the white man says we should?

GIVE ME THE NAME OF ONE WALL STREET EXECUTIVE WHO HAS BEEN PROSECUTED AS A RESULT OF PRACTICES THAT LED TO THE COLLAPSE OF THE SUBPRIME MORTGAGE INDUSTRY AND THE SUBSEQUENT GLOBAL FINANCIAL CRISIS.

People should try to buy and watch the documentary called "Inside Job".

After that, decide for yourselves who the real fraudsters are.