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October 31, 1995 Barings Bank culprit Leeson agrees to be extradited to Singapore to stand trial
Thirty years ago today, on October 31, 1995 (September 8, 1995 in the Chinese lunar calendar), Barings Bank chief suspect Lisson agreed to be extradited to Singapore for trial. On October 31, 1995, Nick Lisson, the British broker who caused the bankruptcy of British Barings Bank due to derivative transactions, agreed to Germany's judicial decision to extradite him to Singapore for trial. Lisson's lawyer, Kempf, said yesterday that Lisson had given up appealing to the German Constitutional Court and the European Court of Human Rights. On October 4, after the German court in Frankfurt announced that it would agree to Singapore's extradition application, Risen refused to accept it and requested an appeal. Lawyers said Leeson changed his mind this time because he believed that Singapore would not place all the responsibility for bank bankruptcy on him. Germany's Frankfurt Allgemeine Zeitung reported that the Singapore government has accused two managers of Barings Bank of being also responsible for the bank's bankruptcy and has not ruled out the possibility of prosecuting senior bank personnel. Another reason why Leeson agreed to be extradited to Singapore was that New Zealand had guaranteed a fair trial for him. As a broker of Barings Bank in Singapore, Risen caused huge losses in financial speculation in early 1995. New Zealand accused him of damaging the reputation of the Singapore Exchange and committing forgery and fraud.


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