Democratic Underground - British bankers to be sentenced in Enron case today

Reply #47: British bankers to be sentenced in Enron case today [View All]

AnneD

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Fri Feb-22-08 12:17 PM
Response to Original message

47. British bankers to be sentenced in Enron case today

Edited on Fri Feb-22-08 12:18 PM by AnneD

HOUSTON — Three British bankers who have pleaded guilty for their roles in a fraudulent scheme with former Enron Chief Financial Officer Andrew Fastow are set to learn their fates.

David Bermingham, Giles Darby and Gary Mulgrew each face up to five years in prison and a fine of up to $250,000 when sentenced today.

In November, the three men each pleaded guilty to one count of wire fraud as part of a plea agreement after initially saying they were innocent of colluding with Fastow in a secret financial scam in 2000 to enrich themselves at their employer's expense.

Federal prosecutors are recommending that U.S. District Judge Ewing Werlein Jr. sentence each of the men to just over three years in prison.

more...

http://www.chron.com/disp/story.mpl/business/5561483.html

Another lone trader on the grassy knoll theory goes up in smoke. :sarcasm:

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Reply #47: British bankers to be sentenced in Enron case today [View All]