8 Worst Corporate Scandals in Europe

5. Barings Bank Scandal

Barings was established in 1762, used to be the oldest merchant bank in London, and it held an account belonging to the Queen among other things. When Nick Leeson gambled away £827 million back in 1995, it all came crushing down. The bank went bust and was subsequently acquired by ING for a pound. As for Leeson – he was sentenced to six and a half years in Singapore prison but was released after serving four. Not only that, but he received £7 million profit from the movie “Rogue Trader” which was based on his story. Crime certainly paid off for Leeson, but almost all of his colleagues have lost their jobs in the process. This is something he’ll have to live with.

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