26/02/1995 U.K. Barings Bank goes bust after £1bn fraud
BBC1 News 6:05pm 26th February 1995
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Barings Bank was a British merchant bank based in London and the world's second oldest merchant bank. The bank collapsed after suffering losses of £827 million, resulting from poor speculative investments, primarily in futures contracts, conducted by an employee named Nick Leeson working at its office in Singapore.
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