Rogue Trader To Speak At OffshoreAlert Symposium

by Mike Godfrey, Tax-News.com, Washington

26 May 2004

Infamous rogue trader, Nick Leeson, who caused the collapse of Barings Bank in 1995 by concealing unauthorized trading losses of $1.3 billion, is to speak at the forthcoming OffshoreAlert Due Diligence & Asset Recovery Symposium, it has been revealed.

In addition to Mr Leeson, attendees will hear talks given by Manhattan's Assistant District Attorney, John Moscow (who is currently involved in the prosecution of Tyco's former General Counsel, Mark Belnick), and leading criminal psychologist, Dr Stanton Samenow.

The intention of the symposium is to teach those who attend how to detect and prevent white-collar crime, comply with banking and general legislation, and recover the proceeds of criminal activity in multiple jurisdictions, including offshore centres.

"There is no more important aspect to any significant business transaction than due diligence," explained OffshoreAlert's publisher, David Marchant, continuing:

"If it is not done properly, it can lead to a loss of principal and reputation, fines and other penalties, including prison; not to mention unwanted stress."

He concluded that:

"Perhaps the most significant lesson from the plethora of financial scandals of recent years is that no person or business should be trusted at face value, no matter their size or credentials. It is imperative, therefore, that you educate and train yourself and your employees in the art of independently gathering and analyzing information so that you know who, and what, you are dealing with at all times."

The conference will take place at the Biltmore Hotel in Coral Gables, Florida, between October 13 and 15, 2004.

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