crime

Police say banker killed himself after Y150 mil rogue trading loss

22 Comments

A Japanese banker who lost 150 million yen he had persuaded clients to invest off his employer's books has killed himself, Resona Bank said Friday.

The unnamed 25-year-old told three corporate clients of the Osaka-based bank last year that he could generate profits if they entrusted their cash to him.

The banker, who worked at the bank's Ikebukuro branch in Tokyo, collected a total of 155 million yen from them without informing his superiors, said a spokesman with the bank.

"But most of the money appeared to be lost as he allegedly used the funds in foreign exchange and other trading," the spokesman said.

In January, the bank questioned him over the case after one of the three clients complained that he was uncontactable.

The following day the man killed himself, the spokesman said.

The bank prohibits its employees from collecting funds for investment without permission.

The case was "extremely regrettable," the spokesman said, adding that the bank has reported it to the Financial Service Agency.

© (c) 2014 AFP

©2020 GPlusMedia Inc.

22 Comments
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puppetmaster will not be caught

-4 ( +2 / -6 )

A 25 year working at the Ikebukuro branch, trading in FOREX? Those investors who handed over the money certainly weren't the sharpest tool in the shed, were they.

6 ( +9 / -3 )

He shouldn't have killed himself. It's not like he stole from a store or something as serious as that.

-1 ( +4 / -5 )

My condolences go out to the family of this young man, but what a gutless coward. Instead of facing the consequences, his best strategy to escape punishment was to murder himself? Suicide is never the answer; it just creates more problems.

0 ( +5 / -5 )

Too bad so many people take to suicide instead of working out their problems! He was not a kid! He should have faced the mess of his own making and dealt with it properly. I hear about a lot of people who lost money in FOREX, including myself, but this guy was in the very heart of the business it is not like he was the victim here.

0 ( +2 / -2 )

puppetmaster will not be caught

This seems like a baseless assumption. What evidence at all leads you to believe there was a 'puppet master'?

-3 ( +2 / -5 )

This seems like a baseless assumption. What evidence at all leads you to believe there was a 'puppet master'?

He probably read Barry Eisler's "John Rain" series too many times and took to heart there was an actual anti-hero specializing in death "by natural causes".

2 ( +2 / -0 )

what idiots would give this guy money to play with? they deserve their losses, but this guy surely didn't need to kill himself.

2 ( +4 / -2 )

"An unnamed 25-year-old Japanese banker at Resona Bank Ikebukuro branch lost 150/155 million yen he had persuaded clients to invest off his employer’s books"

"three corporate clients of the Osaka-based bank last year that he could generate profits if they entrusted their cash to him."

hmmm

1 ( +2 / -1 )

Couldn't find out how he ended it all ,uh?And this happened in January and only now coming out? Why bother?

1 ( +1 / -0 )

I presume his master plan was to take a cut of his trading profits for himself, and give his corporate clients some goodies in return for the generous use of the money...

Given his youth, I wonder if he had a bit of an easy first experience in trading, with the Abenomics providing him with some easy profits, but he let it go to his head and crashed and burned when he started playing with the big money?

In any case, according to Nikkei Resona bans staff from trading forex outside of work. He got into the wrong line of work.

If you want to blow other people's money, there's only one legal way to do it. Become a politician son.

2 ( +2 / -0 )

http://wallstreetonparade.com/2014/04/suspicious-deaths-of-bankers-are-now-classified-as-“trade-secrets”-by-federal-regulator/

Generally, investment banks carry insurance on their workers and make big money on this.

It doesn’t get any more Orwellian than this: Wall Street mega banks crash the U.S. financial system in 2008. Hundreds of thousands of financial industry workers lose their jobs. Then, beginning late last year, a rash of suspicious deaths start to occur among current and former bank employees. Next we learn that four of the Wall Street mega banks likely hold over $680 billion face amount of life insurance on their workers, payable to the banks, not the families. We ask their Federal regulator for the details of this life insurance under a Freedom of Information Act request and we’re told the information constitutes “trade secrets.”

According to the Centers for Disease Control and Prevention, the life expectancy of a 25 year old male with a Bachelor’s degree or higher as of 2006 was 81 years of age. But in the past five months, five highly educated JPMorgan male employees in their 30s and one former employee aged 28, have died under suspicious circumstances, including three of whom allegedly leaped off buildings – a statistical rarity even during the height of the financial crisis in 2008.

2 ( +2 / -0 )

The bank doesn't even sounds sorry that they guy died.

-2 ( +2 / -4 )

Forex is a damn hard speculative gamble. Don't fool yourself and think you can make millions from the market. Its darn hard!

At the same time, the traders life surely is worth more than 150million yen!

0 ( +0 / -0 )

What is it with the word regrettable, honestly?

1 ( +1 / -0 )

The suicide is too bad. Probably money from 1%ers for whom this was just pocket change.

0 ( +1 / -1 )

In January, the bank questioned him over the case after one of the three clients complained that he was uncontactable.

The following day the man killed himself, the spokesman said.

Why is this just coming to light now? Why did Resona and the authorities bury this for four months? In any case, my condolences to the young-man's family. Losing a son under any circumstances is truly tragic.

-3 ( +1 / -4 )

Note to self; do not invest in Resona Bank.

0 ( +1 / -1 )

This story sounds like a LOT of BS! Some $$ may have been lost but I bet this dead guy is being made a patsy

0 ( +0 / -0 )

@Seirei Tobimatsu Puppetmaster? This guy is making his own bets, there is no puppetmaster.

Some clarification - is he a banker or a trader? That'll make a big difference, and would probably make more sense.

0 ( +0 / -0 )

Sad he took the pill. If he stayed around he could have made a few bucks from the book and movie.

0 ( +0 / -0 )

Just thinking here, burning odor :). Why do people believe it was an actual suicide when people are murdered for far less?

0 ( +0 / -0 )

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