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Benzinga
Benzinga
Business
Wayne Duggan

This Day In Market History: Rogue Derivatives Trader Nick Leeson Confesses To Massive Losses

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened? On Feb. 24, 1995, derivatives trader Nick Leeson sent a resignation fax to Barings Bank in which he admitted to making fraudulent and unauthorized trades that ultimately resulted in the bank’s bankruptcy.

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