Former Uk NatWest Bankers Face US Courts
LOSSES & LAWSUITS
Lawyers for the men say that under the US legal system they could face up to 35 years in prison if they are found guilty of the seven counts of 'wire fraud' they are charged with. It is estimated that the court case will cost each of them $2 million in legal fees and associated expenses.
The three bankers worked for NatWest Bank, which is now part of Royal Bank of Scotland. They are alleged to have conspired with Enron executives over the sale of a stake in an Enron entity in 2000 for less than it was worth, which earned them $7.3 million.
The extradition falls under a new, controversial treaty in force since January 2004, which was designed to speed up the extradition of terror suspects to the US. However, the US has not signed its side of the treaty, so the UK does not have the same power to extradite individuals from the US. There are several other executives in the UK fighting extradition as well.
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