Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education

Front Page



UK Politics







Talking Point

In Depth

On Air

Low Graphics

Friday, October 29, 1999 Published at 16:18 GMT

Business: Your Money

Leeson paid £61,000 for speech

Nick Leeson will earn money from TV adverts

Disgraced former Barings trader Nick Leeson has been paid $100,000 (£61,000) to speak at a business conference in the Netherlands.

It was the first in a long line of lucrative celebrity-style appearances planned by the man who single-handedly brought down Barings Bank.

He will also be endorsing products in advertisements and appearing on television shows.

Business people, brokers and bankers paid about £188 each to hear him speak at the event in the Netherlands.

[ image: Anna Friel and Ewan McGregor starred in Rogue Trader]
Anna Friel and Ewan McGregor starred in Rogue Trader
Leeson was released from a Singapore jail four months ago after serving three-and-a-half years of a six-and-a-half-year sentence for fraud.

He was caught after going on the run when his gambling on derivatives markets landed Barings Bank with £800m of debt.

Now, Leeson's assets are frozen and he has huge debts hanging round his neck.

He said: "I would like to go back into the financial world, but which company is going to be brave enough to employ me? Who will let me trade again?"

Leeson has written a book of his story, "Rogue Trader", which was made into a film, starring Ewan McGregor.

But his public relations adviser, Ian Monk, says Leeson did not gain a penny from either, because it went directly to Barings' creditors.

Under an agreement with the creditors, he will be allowed to keep 35% of money earned from public and media appearances and advertising.

Cash allowances

The remaining 65% will go to creditors.

Some of his portion of the money will go on medical bills. Leeson found out while in prison that he has colon cancer. After treatment, he is now in remission.

Leeson also receives a monthly allowance of £3,000 a month from his frozen assets.

"This man is inundated with offers. It's great," said Mr Monk.

Asked where he wanted to be in 10 years' time, Leeson replied: "I hope I'm still alive.

"I would like to live with somebody, have children and be left alone."

Leeson spoke about his view of world stock markets to 250 members of the Amsterdam stock exchange.

It was a Dutch group, ING, which bought up Barings after its collapse and bailed it out.

Advanced options | Search tips

Back to top | BBC News Home | BBC Homepage | ©

Your Money Contents

Relevant Stories

05 Jul 99 | Your Money
A life after crime

01 Jul 99 | The Economy
The double life of Leeson

22 Jun 99 | The Economy
How Leeson broke the bank

22 Jun 99 | The Economy
Leeson scandal 'could happen again'

Internet Links

Risk Watch: the collapse of Barings

The BBC is not responsible for the content of external internet sites.

In this section

The growing threat of internet fraud

Online share dealing triples

Maxwell pledge to pensioners

Insolvent firms to get breathing space

Building society offers £1,000 windfalls

Financial services plan for millions

Why banks love online customers

Help for the 'financially excluded'

Abbey, Halifax raise mortgage rates

Banks accused of sharp practice

Endowment holders 'may win payouts'