Leeson to be freed in July if behaves: Singapore

SINGAPORE, APRIL 5: The Singapore Government said today that rogue derivatives trader Nick Leeson could be released from prison by July 3...

SINGAPORE, APRIL 5: The Singapore Government said today that rogue derivatives trader Nick Leeson could be released from prison by July 3 because of good behaviour.

"The earliest he could be released would be July 3, provided his behaviour is good," a spokeswoman for the Ministry of Home Affairs told Reuters.

The spokeswoman confirmed reports quoting Singapore Home Affairs Minister Wong Kang Seng as saying that Leeson could be released in July.

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Leeson, the former futures trader whose deals in Singapore brought down britain’s oldest merchant bank Barings, was sentenced to a six-and-a-half- year prison sentence that began in December 1995.

He was convinced of fraud in Singapore after his money-losing trades buried Barings under US $ 1.4 million in debt. In August, Leeson, 32, was diagnosed with cancer of the colon, but his application for early release on medical and compassionate grounds was turned down by Singapore authorities.

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