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Singapore May Release Rogue Trader

April 5, 1999

SINGAPORE (AP) _ Ailing rogue trader Nick Leeson, jailed for fraud and forgery in connection with the 1995 collapse of Barings Bank, could be released July 3, Singapore officials said today.

A spokeswoman for the Ministry of Home Affairs who spoke on customary condition of anonymity said Leeson could be released ``provided his behavior is good.″ She would not elaborate.

A Hong Kong newspaper reported Sunday that Singapore plans to release Leeson before his sentence is completed.

The South China Sunday Morning Post quoted Singapore’s Minister of Home Affairs, Wong Kan Seng, as saying the Briton will be released on July 3 for good behavior.

Leeson, who is in Changi prison, is suffering from colon cancer. Last year, he asked Singapore authorities for early release on compassionate grounds, but his request was denied. Leeson, 32, has more than three years before he will complete his six-year sentence.

He made unauthorized futures deals worth millions of dollars from his base in Singapore, leading to the collapse of Britain’s oldest bank. In 1998, he was diagnosed with cancer and under went therapy in a hospital in Singapore.

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