The Top 10 #Biggest #Financial_Crimes in #History.
~GIVE A MAN A GUN HE WILL ROB A BANK; GIVE A MAN A BANK AND HE WILL ROB THE WORLD!~
The biggest Financial Crimes in history weren't carried out at the point of a gun, but with a pen or the click of a computer key. Some were carried out through greed; some because of the narcissistic dreams and delusions of rogue traders.
All were made possible by breaches or oversight of basic business principles of justice, fair play, good governance and competent management.
1. Bernard L. Madoff ... $65 billion.
2. Bruno Michel Iksil... up to $9 billion.
... rogue trader.
Institution: JPMorgan Chase.
3. "Sir" Allen Stanford ... $8 billion.
Institution: Stanford International Bank.
4. Jerome Kerviel... Euro 4.9 billion.
...rogue trader.
Institution: French bank Societe Generale.
5. WorldCom ... $3.8 billion.
Institution: Began as Long Distance Discount Services (LDDS) in 1983, became LDDS WorldCom in 1995, and WorldCom in 2000.
6. Yasuo Hamanaka ... $2.6 billion.
..."Mr. Copper".
Institution: Sumitomo Corporation.
7. Kweku Adoboli (UBS)... $2.3 billion.
...rogue trader.
Institution: Swiss global Investment Bank UBS.
8. Nick Leeson ... $ 1.4 billion.
...rogue trader.
Institution: Barings Bank.
9. Toshihide Iguchi ... $1.1 billion.
Institution: Daiwa Bank of Japan.
10. Enron ... $1 billion.
Institution: Enron Corporation...American energy company based in Houton, Texas.
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