'Natwest Three' may enter plea bargain

26 November 2007

The team of bankers known as the 'Natwest Three' are due for a re-arraignment this week which may see them entering a plea bargain.

A US judge will hear new pleas from David Bermingham, Giles Darby and Gary Mulgrew on Wednesday regarding fraud charges.

According to the Sunday Times the three British bankers accused of fraud are in negotiations over admission of certain charges if others are dropped, which the news of a re-arraignment would certainly back up.

Although their trial is set for January 7th next year, Wednesday may see the plea bargain entered in order to cut prison time to a possible year rather than the decades they face on current charges.

The three men have protested their innocence all along in the case of defrauding Greenwich NatWest out of $19 million along with Andrew Fastow, Enron's chief financial officer.

Mr Fastow is currently serving a six-year sentence after a plea bargain in the US courts and sources suspect that the hearing with District Judge Ewing Werlein on Wednesday will see some form of plea bargaining.

All three bankers were indicted in 2002, arrested in London in 2004 and then extradited to the US in 2006 awaiting trial.

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