John Rusnak joins a list of infamous traders who gambled and lost hundreds of millions
Barings, Britain’s oldest merchant bank, collapsed in 1995 after the Singapore-based Leeson ran up losses from unauthorized trading of nearly $1.3 billion. He was sentenced to six-and-a-half years in jail in Singapore for fraud but was released in 1999 because he was suffering from cancer.
The Daiwa Bank executive lost more than $1.1 billion in trading losses and unauthorized sales in the American bond market during a 11-year period....
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