British Bankers Jailed Over Enron Scam

Three British bankers have been jailed for 37 months after pleading guilty to stealing US$7.3m (£4m) in a sophisticated transatlantic fraud tied to the collapse of the US energy company Enron in 2001.

The men, who worked for Natwest Bank's investment banking arm, struck a deal in 2000 with two senior Enron executives recommendeding the bank sell its stakes in an Enron-related venture in the Cayman Islands for a low price - the men then shared the profits with their Enron counterparts.

The three men, who were extradited to America, pleaded guilty at a hearing in Houston's federal courthouse.

By staff writer