8. Peter Young: Lost 400 Million Pounds

Peter Young held the position of a fund manager at Morgan Grenfell Asset Management, acquired later by Deutsche Bank. His company fired him on the grounds of irregularities in the European Growth Trust fund, which was managed by Young. He came up with ways to circumvent the authorities. He created many fake companies to derive benefits of stock warrants. When under enquiry, it was discovered that he held more than 3 times the amount of money permitted legally through these holdings. He was charged on the grounds of fraudulence in the year 1998. He, however, could not be charged with it as he was found to be mentally ill. In the year 2000, he was free from facing trial as he had hurt himself and was responding to another name.