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As Nick Leeson begins his six‐and‐a‐half‐year sentence in Singapore the question must be asked — is this really the end of the road or is there greater fallout to come? The two most crucial things to emerge from months of press coverage interviews and negotiation are (1) the status given to the criminal and (2) the impact on plea bargaining; of the two perhaps the first matter is the more interesting, but the implications must be considered.

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