http://en.wikipedia.org/wiki/List_of_tra...
In 1997 Myron Scholes was awarded the Nobel Memorial Prize in Economic Sciences for a method to determine the value of derivatives. Together with John Merriwether, they ran Long Term Capital Management. Initially successful with annualized return of over 21% (after fees) in its first year, 41% in the second year and 43% in the third year, in 1998 it lost $4.6 billion in less than four months following the 1997 Asian financial crisis and 1998 Russian financial crisis requiring financial intervention by the Federal Reserve, with the fund liquidating and dissolving in early 2000.
http://en.wikipedia.org/wiki/LTCM
Also on the above list, there was a movie made called Rogue Trader (1998) about Nick Leeson where he lost $1.5 billion and bankrupted the centuries old Barrings Bank.
Here is the Rogue Trader list
http://en.wikipedia.org/wiki/Rogue_trade...
Invesment Banker runs a Ponzi Scheme. Reporting bogus financial statements of steady earnings. More and more people join, but he's really paying off old investors with new investor money. He also splurges the money on himself and his fiance (ex-stripper), to give the illusion of success to others and bring in more clients.
However, when the financial recession looms, and investors begin to ask for there money back, the investment banker doesn't have it to give back. He begins to give friends and family the run around. Calls pour into the FBI, and he's gone without a trace. Until in a plea agreement, his stripper fiance (now pregnant) tells the Feds he's hiding out in Peru, and he's brought back to the US, where he's currently facing a 22 yr sentence. The I-Banker won't see his son until 2054.
Or something like that.......
I'm writing a short story. In my story I have an investment banker that loses people's money. Now I have an idea on how the investment banking world works. I've seen in a lot of movies lately they show bankers losing people's pensions and savings. This is what I want to put in my story.
I want to write about an investment banker that has lost most of his friends money, their savings, pensions and so on. I guess an investment banker basically gambles on the stock market with other people's money, investing in stocks, companies he thinks will do good.
Can someone give me a scenario, a situation where such an investment banker loses a lot of money fast. Like he gambles away his friends money, the money that was entrusted to him to invest wisely and a bunch of people end up losing all their money. Or someone embezzles the money, something, some kind of situation where a banker loses a lot of money that are detrimental to the lives of his friends and family.
I would appreciate any help. Thank you.
