Speculation grows over Leeson trial deal
Friday 20 October 1995
Nick Leeson's lawyer in Singapore, John Koh, met fraud investigators there amid mounting speculation yesterday that the former trader is seeking a deal. Mr Koh refused to discuss details of his discussions with the Commercial Affairs Department, the investigative arm of the Finance Ministry, but said: "We have been evaluating all the various defence options open to us."
The CAD has launched a full-scale investigation into a number of former top Barings' executives accused of covering-up a key warning sign that might have prevented the collapse of the merchant bank.
The CAD has interviewed James Bax and Simon Jones, formerly the two most senior Barings' executives in Singapore, and is keen to talk to Peter Norris, the London-based former chief executive. In a damning report by the Singapore authorities into the demise of Barings, both Mr Norris and Mr Bax were accused of involvement in the cover-up and of lying to the investigators.
Lawrence Ang, director of the CAD, opened the door to a deal with Mr Leeson during his announcement on Wednesday that the investigation is to be widened to a handful of other executives. "We will see what he has to offer," he said. Mr Leeson appears to be increasingly resigned to facing trial in Singapore, although he has appealed against the decision of a German court to approve his extradition.
After the Singapore authorities' report earlier this week, which broadened the blame for the bank's demise to, notably, Mr Norris and Mr Bax, the British lawyer representing Mr Leeson, Stephen Pollard, said his client is now likely to get a fairer hearing in Singapore.
Eddie George, the Governor of the Bank of England, yesterday declared the Singapore findings on Barings to be consistent with the Bank's own inquiry, while admitting he had not read the report. Mr George, speaking in Kuala Lumpur, during a goodwill tour of Asian financial centres - Singapore is not on the itinerary - said: "Based on press accounts I can say that it is consistent with our findings.'' Both had identified a single trader's unauthorised dealings and a failure of management controls as the main reasons for the Barings collapse.
- 1 Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
- 2 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 5 UK weather: Britain braced for snow as arctic air mass moves in
Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
Ian Brady: Moors murderer announces his support for Ukip and the SNP
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
UK weather: Britain braced for snow as arctic air mass moves in
Bali Nine executions in Indonesia: Death row British grandmother Lindsay Sandiford says she 'just wants to get it over with'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
iJobs Money & Business
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...