Chasing redemption – Convicted trader runs for charity

Nick Leeson, the man who sank England’s oldest merchant bank by illegally racking up trading debts of $1.4 billion, will run the London marathon to raise charity dollars, Reuters reports.

Leeson, 33, was jailed in Singapore in 1995 for fraud after he covered up the $1.4 billion he lost on derivatives trading using a false trading account.

Barings bank went under, Leeson’s wife divorced him and he discovered he had colon cancer following his arrest.

Leeson’s 6˝ year prison term was reduced for good behavior.

“Because I’ve been through such a long period of mental and physical pain, running the marathon does not seem so daunting,” Leeson told London’s Evening Standard.

He hopes to raise 20,000 pounds ($31,630) for colon cancer charities when he runs the marathon in April.

Leeson, whose assets have been frozen, plans to pursue a degree in physical education and sports science at Loughborough University in England.

Leave a Response

Your email address will not be published. All fields are required.