NatWest Three face US court

12 April 2012

The NatWest Three bankers who were extradited from Britain to face £11m Enron-related fraud charges are set to appear before a US court.

David Bermingham, 44, Gary Mulgrew, 45, and Giles Darby, 45, have been ordered to appear before judge Ewing Werlein Jr at the Southern District of Texas Court for a rearraignment hearing.

All three men were extradited from Britain to Houston, Texas, on July 13 last year following a high profile campaign.

Their lawyers said they had been asked not to make any comment ahead of Wednesday's hearing, where the trio may have a case put to them against which they can enter new pleas.

Each of the three men was indicted in the US in 2002 on seven counts of wire fraud - illegally gaining money through international banking systems - and each face up to 35 years in prison if convicted. They deny the charges.

The NatWest Three have been released on bail of four million dollars (£1.9m) but barred from returning home pending their trial, which was set for January 7 next year.

It is alleged that in 2000 the three men advised their former employer NatWest to sell part of a company owned by collapsed US giant Enron for less than it was worth.

They then left the bank and bought a stake in the company, which they sold on at a significantly higher price to make a huge profit, it is claimed.

The trio, who deny the accusations, fought extradition for two years before finally being flown to the US.

American prosecutors issued a criminal complaint against them in June 2002, and in September 2004 a judge ruled that they could be extradited to face the charges under a treaty drawn up between Britain and the US in 2003.

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