The Talon Files

Every number in this episode is from the historical record. The fiction is in the name, the marriage, and the five o'clock morning.The Novella: The Error Account — The Rogue Traders Series, Book 1 Available on Amazon Kindle and in paperback: [link]The Real Case: The Collapse of Barings Bank, 1995Final losses: £827 millionBarings capital at time of collapse: ~£540 millionSale price to ING: £1Sentence: 6.5 years (served 4)Key structural failure: 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.Further reading:Rogue Trader by Nick Leeson (memoir, 1996)Barings Collapse — Bank of England report, 1995The Collapse of Barings by Stephen Fay (1996)Join the inner circle for bonus chapters, research notes, and early access: https://www.krtalon.com/