{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/6a08cda868dc584eda9e9e12/6a09acfc68dc584edac741b6?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Account 88888: The Number That Broke a 232-Year-Old Bank","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/6a08cda868dc584eda9e9e12/1779018449430-3e502626-3997-4131-af41-5ca9a9fd608f.jpeg?height=200","description":"<p>Every number in this episode is from the historical record. The fiction is in the name, the marriage, and the five o'clock morning.</p><p><strong>The Novella:</strong> <em>The Error Account</em> — The Rogue Traders Series, Book 1 Available on Amazon Kindle and in paperback: [link]</p><p><strong>The Real Case:</strong> The Collapse of Barings Bank, 1995</p><ul><li>Final losses: £827 million</li><li>Barings capital at time of collapse: ~£540 million</li><li>Sale price to ING: £1</li><li>Sentence: 6.5 years (served 4)</li></ul><p><strong>Key structural failure:</strong> Segregation of duties — the practice of separating trade execution from trade settlement — was not maintained at Barings' Singapore operation. One person controlled both functions. This is the gap the account lived in.</p><p><strong>Further reading:</strong></p><ul><li><em>Rogue Trader</em> by Nick Leeson (memoir, 1996)</li><li><em>Barings Collapse</em> — Bank of England report, 1995</li><li><em>The Collapse of Barings</em> by Stephen Fay (1996)</li></ul><p><strong>Join the inner circle</strong> for bonus chapters, research notes, and early access: https://www.krtalon.com/</p><p><br></p><p><br></p>","author_name":"K. R. Talon"}