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词条 Yasuo Hamanaka
释义

  1. See also

  2. References

  3. External links

{{blp-refimprove|date=August 2018}}{{nihongo|Yasuo Hamanaka|浜中 泰男|Hamanaka Yasuo}} (born 1950) was the chief copper trader at Sumitomo Corporation, one of the largest trading companies in Japan. He was known as "Mr. Copper" because of his aggressive trading style, and as "Mr. Five Percent" because that is how much of the world's yearly supply he controlled.[1]

On June 13, 1996, Sumitomo Corporation reported a loss of US$1.8 billion in unauthorized copper trading by Hamanaka on the London Metal Exchange.

In September 1996, Sumitomo disclosed that the company's financial losses were much higher at $2.6 billion (285 billion yen).

Hamanaka was sentenced to eight years in prison in 1998 and was released in July 2005, one year early.

See also

  • List of trading losses
  • Sumitomo copper affair
  • Kweku Adoboli lost $2 billion for UBS
  • Jérôme Kerviel
  • Nick Leeson caused a loss of £827 million for Barings Bank, leading to its collapse

References

1. ^6/24/96 INT/BILLION DOLLAR LOSER

External links

  • How Copper Came a Cropper: Sumitomo's robber-baron tactics make the case for regulation Paul Krugman, MIT
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5 : Japanese white-collar criminals|Rogue traders|1950 births|Living people|20th-century Japanese businesspeople

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