'NatWest Three' to be sentenced on Enron fraud charge
The three UK bankers accused of profiting from fraudulent dealing with the Enron CFO have entered guilty pleas in order to lessen their sentences. But they could still face three-year terms, to serve initially in the US, and civil action in the UK to compensate NatWest’s new owners.
The 'NatWest Three', who conspired with a client of their former bank to sell it an undervalued asset, are to be jailed for at least three years after confessing to the charge in a US court. By agreeing to one guilty plea, the three avoided another six which could have resulted in much heavier sentences.