Singapore Fraud Squad Grills Leeson

Former Barings trader Nick Leeson was questioned Monday by officials of Singapore’s fraud squad seeking to uncover details of the collapse of Britain’s oldest merchant bank.

The Commercial Affairs Department officials interviewed him at the top-security Tanah Merah prison, where he has been held since Friday, his lawyer, John Koh, told reporters after visiting him.

The agency confirmed the interrogation but refused to give details.

Koh refused to say whether Leeson would enter a plea at his next court appearance Friday on 11 counts of fraud and forgery.

If convicted, Leeson faces a maximum 14 years in prison. But legal experts say he could get off with a much lighter sentence if he makes a plea bargain and accepts guilt.

Leeson is believed to have agreed to cooperate with the Commercial Affairs Department, which besides prosecuting Leeson also is trying to learn more about the role of top Barings executives in the collapse of the 232-year-old bank in February.

Leeson’s cell is on a landing that has 30 other prisoners.