The Rogue Gambler: 7 Nick Leeson Trades That Triggered a Bank's Sudden Collapse

2. The Rogue Trades Begin

The first of Leeson's rogue trades came in 1992. In an attempt to cover up a mistake made by one of his colleagues, Leeson created a secret account, 88888, to hide the losses. This marked the beginning of his illicit activities. Over the next three years, he made numerous unauthorized trades, each more audacious than the last. These trades were high-risk gambles that had the potential to generate massive profits but also carried the risk of devastating losses.