Three British bankers confessed to an Enron scam in Texas yesterday, admitting to a single charge of transatlantic wire fraud as part of a plea bargain. They'll now have to pay back the $7.3 million the scam netted. The "Natwest Three" said in a statement they hoped this would be the first step in ending their "ordeal."
The trio, who cashed in as the energy trading giant collapsed, were extradited to the US more than a year ago and now await sentencing in February. They could have faced 35 years in prison but instead will now likely be sentenced to 37 months, most of which they hope to serve in Britain. For now, they're forbidden from leaving the Houston area.