You are here: Home - Uncategorized -

Calls for RBS action on NatWest three

0
Written by:
03/07/2006

ressure is mounting for the Royal Bank of Scotland to intervene to prevent the impending extradition of three of its employees to the US for trial.

The NatWest Three, as they have been dubbed, are due to leave the UK for the US on July 17th to face fraud charges linked to the collapse of Enron.

The three men – David Bermingham, Giles Darby and Gary Mulgrew – face charges of defrauding NatWest in a deal with Enron, by selling an interest in a company based in the Cayman Islands for less than it was worth.

However, according to correspondence between the Financial Services Authority (FSA) and the Serious Fraud Office (SFO), RBS, the parent company of NatWest, has looked at the transaction and believes that a fair price was paid.

The three, who have always denied any wrongdoing, believe this report could result in the case against them being dismissed.

They are due to be extradited under the 2003 Extradition Act, which was drafted as part of the fight against terrorism.

It is understood that the Chancellor, Gordon Brown, has tried to intervene on the men’s behalf.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Sunday shopping hours’ reform blocked

Big High Street retailers have had their proposal for extended Sunday shopping hours blocked by the Government.

Close