UK bankers to face Enron related charges in the US
(19 October 2004 – UK) Legislation originally introduced to speed up the extradition of suspected terrorists could see three former UK bankers sent to the US to face charges over activities relating to Enron.
The three worked for NatWest Bank, now part of Royal Bank of Scotland, and could face bankruptcy and be imprisoned for up to 35 years if found guilty.
US prosecutors allege the three bankers conspired with Enron executives over the sale of a stake in the failed energy company in 2000. They maintain the three bankers each made US$2.7 million after selling an interest held by NatWest in an Enron entity on the cheap and keeping the difference.
The judge said there was good and proper basis for the three to be prosecuted in the US and that the decision did not breach their human rights.
Speaking outside Bow Street Magistrates Court in London, one of the ex-bankers said they would appeal against the judgement.
"Not just for ourselves but on the basis of the fact that many, many people are likely in the near future to suffer the inequity and injustice that is today being perpetrated against us by the US government," he said.
US prosecutors allege the three bankers conspired with Enron executives over the sale of a stake in the failed energy company in 2000. They maintain the three bankers each made US$2.7 million after selling an interest held by NatWest in an Enron entity on the cheap and keeping the difference.
The judge said there was good and proper basis for the three to be prosecuted in the US and that the decision did not breach their human rights.
Speaking outside Bow Street Magistrates Court in London, one of the ex-bankers said they would appeal against the judgement.
"Not just for ourselves but on the basis of the fact that many, many people are likely in the near future to suffer the inequity and injustice that is today being perpetrated against us by the US government," he said.
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