Barings Bank: A Tale of Deception and Financial Collapse

The transcript details the story of Nick Leeson, a trader whose initial errors and psychological pressure led to massive financial losses for Barings Bank. Despite being perceived as successful, Leeson was living a double life, using alcohol to cope with the stress. His unchecked actions resulted in a financial collapse, as he placed increasingly risky bets. The lack of oversight from management allowed Leeson's deception to continue until auditors discovered the fraud, leading to the unraveling of his scheme.

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