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Natwest Three face court

28/11/2007

Three former Natwest bankers extradited from Britain to face fraud charges will appear before a US court today.

The so-called Natwest Three will appear before a judge in Houston, Texas after being extradited there in July last year.

David Bermingham, 44, Gary Mulgrew, 45, and Giles Darby, 45, face charges related to the collapse of US energy giant Enron.

Prosecutors claim that in 2000 the three men advised their former employer Natwest to sell part of a company owned by Enron for less than it was worth.

They subsequently left the bank, after which it is claimed they bought a stake in the company in question and sold it on at a significantly higher price - making a substantial profit.

The three men, who have denied the allegations, fought an extradition battle for two years before finally being sent to the US to face trial.

A new treaty drawn up between Britain and the US in 2003 allowed the defendants to be extradited under a new fast-track system.

Reports claim the trio, who were released on bail shortly after their extradition, could face up to 35 years in prison if found guilty of the charges against them.

However it has been suggested today's court hearing could result in a plea bargain being agreed to by prosecutors, under which the men would plead guilty to lesser charges in return for receiving a possible lighter sentence.