Leeson Bound for Singapore: Nicholas Leeson, 28,...
Leeson Bound for Singapore: Nicholas Leeson, 28, the trader whose losses brought down Barings, left Frankfurt on a plane that was scheduled to land today in Singapore, a German airport official said. Leeson recently dropped his fight against extradition to Singapore after an investigators’ report there accused two former Barings directors of having tried to cover up mounting losses. The German government approved Leeson’s extradition Nov. 14. Leeson had been held in Frankfurt since March 2. Barings, Britain’s oldest investment bank, collapsed Feb. 27 under the weight of $1.4 billion of losses in the futures and options markets in Singapore and Osaka, Japan. The bank’s assets were later taken over by ING Groep, a Dutch financial holding company.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
