In the Media

In the News

Former Bankers Face Houston Court
Natwest Three Extradition
FINANCIAL TIMES
By Sheila McNulty
July 14, 2006

The three former NatWest investment bankers extradited from the UK to face Enron-related charges will be taken into federal court today for an initial appearance that could resolve whether they receive bail.

Legal experts said they were likely to be wearing shackles when brought before magistrate judge Steven William Smith.

He will hear the charges, determine if they have counsel - if so, permit them to enter a plea and, perhaps, decide whether to set bail.

The three men flew to Houston yesterday in the last three rows of Continental flight 35. Giles Darby was followed by David Bermingham and Gary Mulgrew, flanked on either side by US marshals.

Their last meal before they were taken off to be handcuffed in the George Bush Intercontinental Airport was a choice of grilled chicken with green beans and carrots or sliced beef on rice.

The men appeared cool and composed on the 9 1/2-hour journey. Whenever anyone approached the trio, they were promptly shooed away by flight attendants.

Their day began early in the morning, when dozens of reporters and photographers turned up at the Croydon police station in south London to see them go.

"It's a very sad day. It's a sad day for you guys because I suspect most of you are British and you've been let down by your own government," Mr Bermingham told them before he, Mr Mulgrew and Mr Darby were rushed away in a white van to Gatwick Airport.

The extradition came a day after the body of Neil Coulbeck, a possible witness in their investigation, was discovered in a park in east London.

Mr Bermingham said: "A man died yesterday. Let's get some perspective. I'm coming home one day."

Some US legal experts suggested that the three could be sent back to the UK to await trial if the British authorities agree to guard them under home confinement.

Robert Mintz, a legal expert who has been following the Enron trials, said: "It's possible because of the highly politically charged nature of this case. But that's not the usual course of action.''

More likely, their passports will be confiscated to limit flight risk; they will be handed a stiff bail that ensures co-operation; and ordered to be held under home confinement with an electronic ankle tag.

Joel Androphy, a prominent Houston attorney, said the fact that they fought extradition should not be held against them in determining bail as it was their legal right: "It's not that they were fleeing and got caught."

If the men are held in the US, either awaiting trial or if convicted, legal experts say they will be placed in a minimum-security prison with other non-violent, white-collar criminals. Such facilities are reminiscent of college campuses; some do not even have fences.

Prisoners live in dormitory-style rooms, with four to six beds, and do light labour, such as cooking, cleaning and yard work.

"It's not like they're breaking rocks," said Jacob Zamansky, a white-collar crimes expert.

Yet they will not be able to forget they are in a prison: They must wear uniforms, be told when their lights go out and even be subjected to strip searches.

If the three are convicted, they could face stiff sentences. A guilty verdict on fraud involving several million dollars could lead to jail terms in double digits.

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