Broker jailed 36 months for unauthorised trades that cost his employer $9m

[dancingshoes]

SINGAPORE - A 33-year-old broker was jailed 36 months on Monday for making unauthorised trades of crude oil futures, which caused his employer to lose US$7.26 million (S$9 million).

http://www.straitstimes.com/singapo...nauthorised-trades-that-cost-company-millions

 

[Papsmearer]

I congratulate UOB for losing $9 million to this rogue trader. They won't hire singaporeans but instead hire lying, cheating PRC FTs to work for them. They deserved what they got. Now, will the PAP take this fucker's PR away?

 

[dancingshoes]

I congratulate UOB for losing $9 million to this rogue trader. They won't hire singaporeans but instead hire lying, cheating PRC FTs to work for them. They deserved what they got. Now, will the PAP take this fucker's PR away?

the prominent trait of an educated prc is they tend to behave in a way that others will think that they are reliable but if you interact more with them and understand them, it's money talks, bullshit walks.

 

[dr.wailing]

Now, will the PAP take this fucker's PR away?

If I were Ho Jinx, I'd hire this rare talent who got the balls to do what he did.

 

[frenchbriefs]

9m is peanuts,anyone remember the rogue trader who came to singapore in 1995 and accumulated 1.3 billion losses and bankrupted his bank and cost singapore stock exchange hundreds of millions of losses?

 

[fupikee]

9m is peanuts,anyone remember the rogue trader who came to singapore in 1995 and accumulated 1.3 billion losses and bankrupted his bank and cost singapore stock exchange hundreds of millions of losses?

leeson....he wrote a book and thought it would help to exonerate himself from his crimes as well as to earn him some lunch money....saw the book being sold at Times warehouse sale for $1.00...didn't seem to have many takers....

 

[tonychat]

SINGAPORE - A 33-year-old broker was jailed 36 months on Monday for making unauthorised trades of crude oil futures, which caused his employer to lose US$7.26 million (S$9 million).

http://www.straitstimes.com/singapo...nauthorised-trades-that-cost-company-millions

This broker must be a PAP supporter.

 

[dancingshoes]

This broker must be a PAP supporter.

new citizen!

 

[Narong Wongwan]

Can anyone tell me what benefit they broker reaped with such a stunt? I can't seemed to think of any....

 

[eErotica69]

This broker must be a PAP supporter.

He is a foreign trash like you.

 

[frenchbriefs]

leeson....he wrote a book and thought it would help to exonerate himself from his crimes as well as to earn him some lunch money....saw the book being sold at Times warehouse sale for $1.00...didn't seem to have many takers....

yeah saw the movie recently,rogue trader 1995, doubt many sinkies remember him or even know him.the movie was shot entirely in singapore,so u get a feeling what singapore was like pre 2000.

 

[johnny333]

Can anyone tell me what benefit they broker reaped with such a stunt? I can't seemed to think of any....

When I buy shares my broker gets a commission. Maybe he gets a larger commission the more lots he buys?

 

[Narong Wongwan]

yeah saw the movie recently,rogue trader 1995, doubt many sinkies remember him or even know him.the movie was shot entirely in singapore,so u get a feeling what singapore was like pre 2000.

Like pinky he survived cancer and got off rather lightly with only 4 years in changi....

 

[Charlie99]

I congratulate UOB for losing $9 million to this rogue trader. They won't hire singaporeans but instead hire lying, cheating PRC FTs to work for them. They deserved what they got. Now, will the PAP take this fucker's PR away?

Good Post.
By and large, a very significant percentage of the Singaporeans (for sure those whom I know), are law abiding citizens.
With respect, I am not sure about those foreign talents (whom some forummers here sometimes refer to as "tiongs" or "shit skins").

To this day, I am unaware of any country, except perhaps Singapore, who does not ensure that her citizens are given first priority to any job vacancy, unless the employer can prove that no Singapore qualify or able to perform the job's descriptions. Even if those foreigners are cheaper and do not have disruptions due to NS and reservist obligations.

 

[halsey02]

9m is peanuts,anyone remember the rogue trader who came to singapore in 1995 and accumulated 1.3 billion losses and bankrupted his bank and cost singapore stock exchange hundreds of millions of losses?

The stock exchange & MAS was sleeping, have you forgotten how much the people have lost, over Malaysian CLOB??, when KLSE pugged the plug??, what happened to the 'boast' of taking them to the ICJ?? International Court Of Justice??...

 

[Reddog]

I congratulate UOB for losing $9 million to this rogue trader. They won't hire singaporeans but instead hire lying, cheating PRC FTs to work for them. They deserved what they got. Now, will the PAP take this fucker's PR away?

UOB deserves this for their pro-FT policy. Ha Ha.

 

[Reddog]

Good Post.
By and large, a very significant percentage of the Singaporeans (for sure those whom I know), are law abiding citizens.
With respect, I am not sure about those foreign talents (whom some forummers here sometimes refer to as "tiongs" or "shit skins").

To this day, I am unaware of any country, except perhaps Singapore, who does not ensure that her citizens are given first priority to any job vacancy, unless the employer can prove that no Singapore qualify or able to perform the job's descriptions. Even if those foreigners are cheaper and do not have disruptions due to NS and reservist obligations.

Charlie, please shut up and sit down. 69.9% of Singaporeans like this PAP policy.

 

[Charlie99]

Charlie, please shut up and sit down. 69.9% of Singaporeans like this PAP policy.

Yes, thank you.

 

[bigboss]

I congratulate UOB for losing $9 million to this rogue trader. They won't hire singaporeans but instead hire lying, cheating PRC FTs to work for them. They deserved what they got. Now, will the PAP take this fucker's PR away?

Taking away this bugger's SPR is no big deal to him. After all, he still has a return ticket back home to get another job.

Only dumb pappies believe in giving SPR to foreigners. Only dumb employers like UOB believe in giving jobs to foreigners. Because of their stupidity, locals have to compete with foreigners for jobs in their own country, an unique feature of life in sinkie land, cannot be found in another country. Yet, 70% brain dead sinkies still voted pappies.

 

[bigboss]

UOB deserves this for their pro-FT policy. Ha Ha.

Wee family should thank and pray to their ancestors with big roasted pig and big candle sticks this tiong bugger did not cause UOB to collapse like a pack of cards that Nick Leeson did to that Brit bank with his unauthorised trade.