Natwest three get 37-month each

Texas judge has handed each of the Natwest three a 37-month jail term for their role in the ₤3.7bn Enron fraud

Written by AccountancyAge.com

A Texas judge last Friday approved a plea-bargain deal for the three Natwest bankers, who all had previously admitted to wire fraud, handing out a 37-month prison sentence to each.

Judge Ewing Werlein in the Southern District of Texas also ordered the three men to repay $US7.3m (₤3.7m) to Natwest's owner, the Royal Bank of Scotland, as part of the sentencing.

David Bermingham, Gary Mulgrew and Giles Darby admitted to conspiring with ex-Enron employees Andrew Fastow and Michael Kopper, who are already in prison, to defraud Natwest of $US19m and then split $US7.3m between themselves.

The three are hoping to serve their sentences in the UK – but they still have to be referred to a US prison initially, BBC News reports.

Further reading:

Natwest three to be sentenced today

NatWest Three given £3.5m payback reprieve

Read the story in BBC News

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