Description :

Toshihide Isamu Iguchi was an Executive VP and U.S. Government Bond trader at Daiwa Bank's New York Branch, who was responsible for $1.1 billion in unauthorized trading losses accumulated over a period of 12 years beginning in 1983. Toshihide Iguchi gained infamy as a Japanese securities trader who orchestrated one of the largest financial frauds in the 20th century. Employed by Daiwa Bank, he engaged in unauthorized trading activities, concealing massive losses that eventually amounted to over $1.1 billion. Iguchi's fraudulent schemes spanned several years, revealing a breach of trust within the financial institution. His actions led to severe repercussions for Daiwa Bank, tarnishing its reputation. In 1996, Iguchi was arrested and later sentenced to prison. His case serves as a cautionary tale about the importance of robust financial controls and oversight to prevent such fraudulent activities in the banking sector.