Nick Leeson

Nick Leeson was a trader working for Barings Bank in the 1990s who secretly used complex and risky financial strategies to hide losses. When these gambles failed, he couldn't cover the losses, causing the bank’s financial stability to collapse. His actions, which involved fraudulent bookkeeping and unauthorized trades, ultimately led to the bank's bankruptcy in 1995. Leeson’s case highlighted weaknesses in risk management and oversight, serving as a cautionary tale about the importance of controls and transparency in financial institutions.