Toshihide Iguchi

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Toshihide Iguchi (井口俊英? born 1951) is a former Japanese government bond trader at Daiwa Bank responsible for $1.1 billion in losses involving 30,000 unauthorized trades over a period of 11 years beginning in 1984.[1]

Contents

[edit] Biography

Originally born in Kobe, Japan, Iguchi came to the US at age 20 to enroll in Missouri Southern State University where he majored in psychology.[2] After a stint in a car dealership, he was hired at Daiwa's New York branch to work in the back office. Later, he was promoted to the role of a bond trader where he almost immediately encountered a loss of $200,000.[3] According to Iguchi, concealing this loss to protect his reputation and job was the impetus for his subsequent unauthorized trading[3]

In 1995, he was sentenced to four years in jail for fraud and falsifying documents. He also received $2.6 million in fines.[3]

Iguchi later authored a book titled, "My Billion Dollar Education " about his experiences.

[edit] See also

[edit] References

  1. ^ An Unusual Path to Big-Time Trading - New York Times
  2. ^ Case Study - Daiwa
  3. ^ a b c I didn't set out to rob a bank - Time Magazine

[edit] External links

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