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Brit Enron Bank Grafters Plead Guilty

Posted Nov 29, 07 3:12 AM CST in Crime & Courts,  Business 

(Newser) – 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.

Sources Guardian (UK), AFP

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The extradition of the men to Texas caused controversy in Britain. A fourth banker killed himself in London out of fear of being dragged into the scandal.   (Getty Images)
Reid M. Figel (center left), attorney for Gary Mulgrew reads a statement outside the Bob Casey United States Court House, late Wednesday, Nov. 28, 2007, after British ex-bankers (L to R) Giles Darby,...   (Associated Press)
Reid M. Figel (center left), attorney for Gary Mulgrew reads a statement outside the Bob Casey United States Court House, late Wednesday, Nov. 28, 2007, after British ex-bankers (L to R) Giles Darby,...   (Associated Press)
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sentencing • extradition • Enron • wire fraud


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