UNITED KINGDOM: JONATHAN STONE OF BARINGS BONDHOLDERS ACTION GROUP ANNOUNCES SUMMONS FOR NICK LEESON

Record ID: 337674

  • Title: UNITED KINGDOM: JONATHAN STONE OF BARINGS BONDHOLDERS ACTION GROUP ANNOUNCES SUMMONS FOR NICK LEESON
  • Date: 27th September 1995
  • Summary: LONDON, ENGLAND, UNITED KINGDOM (SEPTEMBER 27, 1995) (RTV - ACCESS ALL) 1. SV JONATHAN STONE, BARINGS BONDHOLDERS ACTION GROUP, SPEAKING (ENGLISH) / CU SUMMONS (3 SHOTS) 0.51 SEQUENCE 1 TRANSCRIPT: STONE: "THE CITY OF LONDON MAGISTRATE'S COURT TODAY, 27TH SEPTEMBER 1995, ISSUED 8 SUMMONSES FOR SERVICE ON NICHOLAS WILLIAM LEESON OUTSIDE THE UNITED KINGDOM, REQUIRING HIM TO APPEAR BEFORE THAT COURT ON MONDAY, 30TH OF OCTOBER 1995, TO ANSWER THE 8 CHARGES, WHICH ARE OF FALSE ACCOUNTING AND OF OBTAINING MONEY BY DECEPTION. THESE ALLEGED OFFENCES ARE WITHIN THE JURISDICTION OF THE CENTRAL CRIMINAL COURT. THERE IS A SUBSTANTIAL PUBLIC INTEREST IN THEIR BEING TRIED IN THIS JURISDICTION." Initials Script is copyright Reuters Limited. All rights reserved.
  • Embargoed: 12th October 1995 13:00
  • Keywords:
  • Location: LONDON, ENGLAND, UNITED KINGDOM
  • City:
  • Country: United Kingdom
  • Reuters ID: LVA5CHA6HWDEWK890ST23UV9D32E
  • Story Text: Britain said on Wednesday (September 27) it was reconsidering whether to seek the extradition of Nick Leeson, the trader who caused the collapse of Barings Bank, after an unusual court summons initiated by investors affected by the merchant bank's collapse.

    Earlier, Britain had said it would not try to extradite Leeson from Germany because it did not want to compete with Singapore, which wants to put him on trial there for alleged forgery, fraud and illegal transfer of money.

    But a group of investors who lost money in the collapse obtained a court order on Wednesday to issue summonses for three offences of deception and five of false accounting, which carry a maximum sentence of ten years. The order requires him to appear before the court on October 30.

    The summonses allege Leeson broke British theft laws through deception and false accounting, including dishonestly obtaining 321.9 million United States dollars from Barings in London.

    The bondholders, who have formed an action group, said in a statement they believed there was "substantial public interest" in the offences being tried in Britain and they would petition British Home Secretary Michael Howard to seek Leeson's extradition.

    Jonathon Stone, a member of the Barings bondholders action group, announced the court order.


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