The forex market, which is considered to be the world’s most liquid and largest financial market, has witnessed the superior abilities (!) Of many fraudsters in history. These scammers that I think almost everyone in the market know are also famous enough to be the subject of the films.
Get ready to get to know the 4 most talented scammers the Forex market has ever seen.
Forex market fraud when it comes to mind the first 4 forgotten and forgotten!
Yasuo Hamanaka: Fraud $ 2.6 billion
Yasuo Hamanaka, also known as Copper Mr. Copper di, was one of Japan’s largest trading companies Sumitomo Corporation traders. Yasuo Hamanaka, known as one of the world’s largest market scammers, has acted as the company’s chief trader for copper trading with a very high transaction volume in the financial markets.
In 1991, Sumitomo Corporation, with whom he worked as a specialist in copper trade, was considered a ‘hero’. After about 5 years, on June 13, 1996, Sumitomo Corporation reported a loss of $ 1.8 billion to the London Metal Exchange. After the investigations, the damage turned out to be much higher. Yasuo Hamanaka had made unauthorized transactions and inflicted $ 2.6 billion on his company after five years. As a result, Copper Mr. Copper arasında was sentenced to eight years in prison in 1998 among his gray suits.
Nicholas William Leeson: Fraud sinks $ 1.4 billion + bank
He is also known as Nicholas William Leeson or Nick Leeson, one of the most famous scammers the market has ever forgotten.
Nick Leeson, who stepped to the top of his career at the age of 28 with his talents, was appointed General Manager of Barings Bank’s investment banking subsidiary in Singapore in 1993. With the condition that Barings Bank became a trading manager on the Singapore international exchange, Nick Leeson, like Yasuo Hamanaka, preferred to use his powers in a different way. In 1994, as a result of accounting errors in the records of 20 thousand pounds removed from the records Leeson, taking great positions on behalf of the company managed to close the error by mistake. I say he did it because he really did it but it didn’t stop! The money would be sweet, but Leeson continued to make mistakes by taking bigger positions after a while.
Nick Leeson, who was directly arrested after the scandal in 1995, had also sunk his bank. This scandal, known as the Barings Bank Incident, is also the subject of Rogue Trader.
John Rusnak: Fraud 691 million dollars
John Rusnak was appointed in 1993 for the foreign exchange market of the Irish-based bank, Allied Irish. In 1996, Rusnak became more aggressive in the market and began to lose money with the famous estimates of the wrong Japanese yen. In 1997, Rusnak; He had lost $ 29.1 million and nearly $ 300 million until 2001.
The trader, who insisted on his false predictions and was very confident, thought that the Japanese yen would appreciate against the dollar. Therefore, he did not guarantee his futures. When things started to go wrong, like others, he abused his powers and began to intervene in the regulatory system to hide his losses. As a result, Rusnak was sentenced to seven and a half years in prison and sentenced to pay $ 691 million.
Jerome Kerviel: Fraud $ 7.1 billion
Jerome Kerviel, one of the traders working for the French bank Societe General in Europe, was accused of carrying out transactions outside of his jurisdiction in 2008, damaging the bank he worked for with $ 7.1 billion.
Jerome Kerviel, a young trader who deals with unauthorized transactions, was sentenced to 5 years in prison and repaid $ 7.1 billion.