‘NatWest 3’ offer guilty plea over Enron | FT Alphaville

‘NatWest 3’ offer guilty plea over Enron

Three former NatWest bankers on Wednesday pleaded guilty to a single charge of wire fraud as part of a deal with US prosecutors aimed at sharply reducing their expected prison terms and accelerating their return to the UK. David Bermingham, Giles Darby and Gary Mulgrew agreed to serve 37 months and pay $7.3m in restitution to the Royal Bank of Scotland in the plea bargain. Under the deal, the men would be able to request a transfer to the UK once they have begun serving their sentences. Judge Ewing Werlein Jr reserved a decision on the plea bargain and set sentencing for Feb 22. The three bankers, known as the “NatWest Three”, had faced up to 35 years in prison if they were convicted on all charges related to the 2001 collapse of Enron.