NatWest Three admit fraud

[Gromit]

The NatWest Three, who were alleged to have netted themselves �1M each (and two of them considerably more) in fraud deals linked to the Enron collapse in the US will go to prison for 3 years.

They were facing 35 years each, and in a plea bargain, admitted one charge of fraud in exchange for the others to be dropped.

http://www.telegraph.co.uk/money/main.jhtml?xm l=/money/2007/11/29/wnatwt129.xml

http://www.theanswerbank.co.uk/News/Question25 8374.html

http://en.wikipedia.org/wiki/NatWest_Three

Have the thieving greedy scumbags got off lightly?

[jno]

they have to repay the money, so that's something. And I'm still unhappy about the way the UK happily allows the USA to extradite people while not insisting on the reverse procedure, so, for example, US soldiers who kill British ones in battle get off scot free. Compared with that situation, the bankers have been hard done by. But by most local standards, yes, they've got off lightly.

[suffragette]

White collar fraud cases like this one are often messed up in the UK, so lets at least congratulate the US for a successful prosecution. We could learn something from their use of specialist lawyers in fraud cases.

[youngmafbog]

Far too light, but better than nothing I suppose.

jno, cant quite see the connection with US soldiers killing british ones in battle?? These three set out to commit a crime the yanks ar just gungho incompetants. Last time I looked this is not generally a crime but if it is Gordy had better get building jails fast!

[Trotbot]

On balance, not got off lightly. Repay the money, jail time, and no position of responsibility again. Save the (US) taxpayer the cost of a trial, do a deal, move on. The DA(?) could have gone to trial, but risked losing it, and their prospects after prison are (quite rightly) poor

[jno]

http://www.ft.com/cms/s/0/2699c7c4-9ea0-11dc-b 4e4-0000779fd2ac.html

[Gromit]

Thank you for the link jno.

It is a very interesting read, but I find myself not really convinced by the conclusion.