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....
To continue reading:
Want the full story?
Get TIME the way you want it
Week Digital Pass — $4.99
Pay-As-You-Go DIGITAL ACCESS — $2.99
Year ALL ACCESS — Just $30! Best Deal!
Print Magazine + Digital Edition +
Subscriber-only Content on TIME.com
Learn more about the benefits of being
a TIME subscriber
If you are already a subscriber sign up — registration is free!