Saturday, February 23, 2008

Three Men Tied To Enron Scandal Get Sentenced

Three former British bankers were sentenced on Friday to 37 months each in prison for their role in a fraud related to Enron. The three had proclaimed innocence for almost six years before pleading guilty last November to conspiring with Enron’s chief financial officer, Andrew S. Fastow, to enrich themselves at the expense of their former employer, the National Westminster Bank of England, or NatWest, now the Royal Bank of Scotland.

The three men, labeled the NatWest Three by British tabloids, were extradited to Houston in 2006, prompting street protests in London and an emergency session of Parliament. Their indictments in 2002 were widely seen as prompting Mr. Fastow to negotiate with federal prosecutors and ultimately provide the testimony that led to the convictions of his bosses, Jeffrey K. Skilling and Kenneth L. Lay, for their roles in the collapse of Enron in 2001. Mr. Fastow is serving a six-year prison term in Oakdale, La.

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