MIAMI, Sept. 21 /PRNewswire/ — A trader who was responsible for one of the most notorious crimes in the history of global finance will make his United States speaking debut next month.
British national Nick Leeson made international headlines in 1995 after he ran up $1.3 billion in losses from unauthorized trading in Singapore.
His illegal trading caused the collapse of his 233-year-old employer, Barings Bank; led to a six-and-half-year prison sentence; and spawned a movie starring actor Ewan McGregor.
Now, after being released from jail, Leeson is ready to explain for the first time to a North American audience how he managed to conceal his losses from his bosses for so long.
He is a keynote speaker at OffshoreAlert’s 3rd Due Diligence & Asset Recovery Symposium, which is being held in Miami, Florida on October 13-15, 2004.
The conference will show financial institutions and others how to reduce their exposure to financial crimes such as investment fraud and money laundering through research and identifying red flags.
Barings Bank represents an extreme example of how poor risk management can not only bring down a long-established business, but also threaten the global economy. Joseph B. Dial, the Commissioner of the Commodity Futures Trading Commission, has stated that the fall of Barings “posed a serious threat to the international financial system — a threat that was averted only by heroic efforts, including midnight phone calls and ad hoc cooperation among regulators.”
Other speakers include John Moscow, Manhattan’s Assistant District Attorney, and Dr. Stanton Samenow, a criminal psychologist who testified at the trial of Washington D.C. sniper Lee Boyd Malvo.
A key segment will be a debate between onshore regulators and offshore financial services providers about the role of offshore jurisdictions in crimes such as Enron and Parmalat.
OffshoreAlert is based in Miami, Florida and, since being launched in 1997, has exposed numerous financial crimes. From November 2003 to January 2004, 11 people who unsuccessfully sued OffshoreAlert for libel were convicted, arrested or indicted for fraud and money laundering. The newsletter’s subscribers include some of the world’s wealthiest businesses and individuals, regulators and law enforcement agencies. Further information about OffshoreAlert’s 3rd Due Diligence & Asset Recovery Symposium can be obtained from www.kycnews.com/DDARS/home.asp , by emailing firstname.lastname@example.org or by calling Naomi Comerford on +1-305-372-6296.