Can't I look for you if there's nothing? I'm calling to tell you that my plan is about to begin. Feng Yan said unhappily, but could you tell me what happened to you?
How did you know? Morrison asked subconsciously.
It's already so late. Other people are hugging women to sleep, but you picked up my call so quickly. Feng Yan analyzed calmly. I can feel the anxiety in your voice. Tell me, what's the matter?
Morrison didn't dare to hide anything from Feng Yan, so he told him what had happened.
It turned out that although Morrison had helped the bank earn a lot of money, it didn't belong to him alone. Although he was appreciated by his boss and was shrouded in all kinds of glory, the huge loan shark debt had always made him feel like a mountain was pressing down on him.
No matter what kind of transaction, mistakes were inevitable, especially in futures trading. For example, some people might mistake the "buy" gesture for the "sell" gesture, some people might buy the contract at the wrong price, some people might buy the June futures but enter the March futures, and so on. Any mistake would cause losses to the bank. After these mistakes, the bank had to deal with them quickly and properly. If the error could not be recovered, the only feasible way was to transfer the error to an account called the " error account " in the computer and report it to the bank headquarters.
When Morrison was in charge of futures trading in Singapore, Barings Bank originally had an " error account " of " 99905 " to deal with errors caused by negligence during the trading process. This was originally one of the normal technical means in the operation of the financial system. Last summer, the London headquarters asked Morrison to set up another " error account " to record minor errors and deal with them in Singapore to avoid trouble in London. Therefore, Morrison set up an " 88888 " wrong account that was very auspicious in the eyes of the Chinese culture. A few weeks later, the London headquarters requested to use the original 99905 account to contact the London headquarters, but the 88888 wrong account that had been established was not cancelled.
On July 17, 2014, Morrison mistakenly took a customer's order to buy the Nikki index futures contract as a sale. The loss was 200 million pounds, which was discovered by Morrison during the settlement that night. He knew that if the head office found out, it would definitely affect his future and he might even lose his job, so Morrison decided to use the " 88888 " account to cover up his mistake. A few days later, due to the rise of the Nikki index, the loss rose to 600 million pounds, and Morrison decided to continue to hide the loss. Due to the lack of an effective monitoring mechanism for the 88888 account, Morrison's mistake had never been discovered. In his eagerness to recover his losses, Morrison began to deliberately conceal his mistakes and made another mistake. Adventurous. Morrison began to secretly use the 88888 account for private trading in an attempt to recover his losses. In order to earn enough money to compensate for all the losses, Morrison took on more and more risks. At that time, he was engaged in a large number of cross-position transactions. Because the Nikki index was stable at that time, he wanted to earn option premium from this transaction, and Morrison did it very smoothly for a period of time. By July 2015, he had turned the loss of 600 million pounds in the " 88888 " account into a slight surplus.
However, the good times didn't last long. The market price skyrocketed, breaking records, and the computer used to clear records frequently malfunctioned. By the time all kinds of errors appeared, Morrison had lost nearly 170 million USD. Morrison had nowhere else to go.
Why didn't you discuss this with me? Feng Yan didn't expect Morrison to be so bold. Back then, Feng Yan had put in a lot of effort to arrange for Morrison to enter Barings Bank because he had the idea of entering Barings Bank. He knew that with Morrison's talent, he would definitely be able to enter the ranks of senior managers. Morrison didn't live up to his expectations, but now that Morrison was no longer in control, what was the use of this chess piece?
Boss, I had no other choice. I thought I could solve it myself, and I started to earn money, but who knew…Morrison's voice was already a little tearful over the phone.
Let me think about it and call you later. Feng Yan knew that it was useless to say anything now, so he hung up the phone directly.
Hearing the toot sound from the phone, Morrison's face turned pale." It was over. Everything was over.
Feng Yan, who was in the United States, was also frustrated. Five years ago, he had set his eyes on Barings Bank. In his plan, it was imperative to acquire a large commercial bank. No matter how smart and capable a person or a small team was, they would not be able to carry out a huge asset investment. With Feng Yan's total value, it was unrealistic to buy Barings Bank, whose core capital was ranked 489th in the world and had a total asset of 5.9 billion pounds. Morrison was one of his chess pieces. Because of this chess piece, he could understand the development strategy of Barings Bank through Morrison, and then seize the opportunity to buy Barings Bank's shares in the stock market. Now that the time was ripe, Feng Yan raised 5 billion USD through Citicorp Bank, preparing to buy about 8% of Barings Bank's shares. But now... Feng Yan shook his head in pain, trying to make his thoughts clearer. This was the first time he felt that the situation was out of control after transmigrating.
After a while, Feng Yan's phone rang. It was Morrison. Feng Yan quickly picked up the phone.
Boss, it's me. Morrison's voice sounded a little sinister. I thought about it and decided that I might as well go all out. I might as well gamble on the Nikki Index. If I could earn it back, everything would be fine. The headquarters in Bali still trusted me a lot. It wouldn't be a problem to get a 100 million USD deposit.
A loss of more than 10 million USD wouldn't be able to shake the foundation of Barings Bank. However, if you make such a big deal and fail, even Barings Bank wouldn't be able to cover it. Feng Yan said. Morrison had gone crazy. Perhaps he was a crazy gambler. He was like this in America, and now he was like this in Singapore.
If I don't do this, how am I going to make up for the 10 million USD gap? Morrison made up his mind. It was a dead end anyway. If he took a gamble, there was still a way out. Perhaps he could win everything back.
Damn it, do you know how much effort I put into Barings Bank? Hearing Morrison's words, the usually calm Feng Yan suddenly felt a surge of anger. He roared over the phone," What's your ten million? I raised 5 billion USD to acquire Ba Lin. F * ck your mother. If it was in the past, I would have killed you immediately.
Five billion USD? Morrison was scared silly by Feng Yan. He knew that Feng Yan was rich and ambitious, but he didn't expect his appetite to be so big. He actually wanted to buy the Barings Bank Group. He originally thought that Feng Yan wanted to use him to make money by buying and selling Barings Bank's stocks. Why don't you help me fill in the loopholes first, and I'll continue to be your spy? We'll still follow the original plan. Morrison said carefully, as if he had found a life-saving straw. If he had the ability to raise five billion, ten million was naturally nothing.
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