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Bank Bust

His appointment to Singapore as a manager of future markets was the beginning of the end. His superiors placed infinite trust in Leeson, letting him act as both Chief Trader and settlement officer.

This dual role helped Leeson to evade detection - account 88888 was used by Leeson to cover up losses made on the Singapore Monetary Exchange (SIMEX), with total losses amounting to $512 million by the end of 1994.

In a desperate attempt to recoup his losses, Leeson traded heavily on the Nikkei Index. But as fate would have it, an earthquake struck Kobe, causing the Nikkei Index to drop by 7% within seven days. Realising there was no turning back, Leeson fled, hoping to spend jail time in the UK rather than in Singapore.

However, he was sentenced by a Singaporean court to six and half years in jail for fraud.

Leeson took several hard knocks thereafter. During his jail term, Leeson battled a painful divorce from his wife and colon cancer. After his release from prison, he found himself having to start life over with nothing. Perhaps this rogue trader has come to understand more of himself and people, which may have led him to pursue a Psychology degree at Middlesex University in 2001.