7 Breathtaking Twists Inside the Rogue Trader's Saga That Shattered Barings Bank

2. The Double Life of a Rogue Trader

Nick Leeson lived a double life at Barings Bank. On the surface, he was seen as a successful trader, generating massive profits for the bank. But behind the scenes, he was concealing huge losses through a secret account known as 88888. This section reveals how Leeson managed to deceive his supervisors and auditors for an extended period. Leeson’s secret life began when his risky trades started accumulating significant losses. To cover them up, he used account 88888, which was initially created to handle clerical errors. Over time, Leeson funneled his growing losses into this account without raising suspicion. His deception was so thorough that even the bank’s auditors overlooked the hidden losses for several years.