When Nick Leeson arrived back to Singapore, he asked Linda for the balance of the 88888 account. It was like asking the result of a medical scan. He had lost almost £ 160 million. He was in a hopeless position. He knew that the auditors were inching closer and closer, moving over columns and columns of figures as they approached the Baring Futures audit. For a week in Singapore he just let his losses sitting there. He was unable to sell options, so he just rolled over the funding requirements. The market did not go against him, but nor did it soar up and put him back on his feet. He did not know what to do. The only good thing was that everyone was busying with Christmas parties, and nobody did much business. Even Gordon Bowser, who been nominated by Simon Jones to be the Risk Officer in the internal audit report came from Hong Kong to checked out Singapore Barings’ operation. He had caused Nick Leeson a scare when he thought that Ash Lewis was going to do it, but it seemed very unthreatening at the moment. Everyone was just cruising after the New York presentations and waiting for the money to roll in.
When Nick Leeson arrived back to Singapore, he asked Linda for the balance of the 88888 account. It was like asking the result of a medical scan. He had lost almost £ 160 million. He was in a hopeless position. He knew that the auditors were inching closer and closer, moving over columns and columns of figures as they approached the Baring Futures audit. For a week in Singapore he just let his losses sitting there. He was unable to sell options, so he just rolled over the funding requirements. The market did not go against him, but nor did it soar up and put him back on his feet. He did not know what to do. The only good thing was that everyone was busying with Christmas parties, and nobody did much business. Even Gordon Bowser, who been nominated by Simon Jones to be the Risk Officer in the internal audit report came from Hong Kong to checked out Singapore Barings’ operation. He had caused Nick Leeson a scare when he thought that Ash Lewis was going to do it, but it seemed very unthreatening at the moment. Everyone was just cruising after the New York presentations and waiting for the money to roll in.
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