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'Reluctant' plea by bank accused 'Reluctant' plea by bank accused
(20 minutes later)
The mother of one of the three NatWest bankers facing jail in the US said her son pleaded guilty to an Enron-related fraud with "deep reluctance".The mother of one of the three NatWest bankers facing jail in the US said her son pleaded guilty to an Enron-related fraud with "deep reluctance".
Scottish parliamentarian Trish Godman said Glasgow-born Gary Mulgrew, 45, had been "coerced" into a plea bargain.Scottish parliamentarian Trish Godman said Glasgow-born Gary Mulgrew, 45, had been "coerced" into a plea bargain.
In a Texas court, Mr Mulgrew, David Bermingham, 45, and Giles Derby, 45, pleaded to one count of wire fraud.In a Texas court, Mr Mulgrew, David Bermingham, 45, and Giles Derby, 45, pleaded to one count of wire fraud.
Under an agreement, yet to be accepted by the judge, the trio would serve 37 months in jail and pay back £3.5m.Under an agreement, yet to be accepted by the judge, the trio would serve 37 months in jail and pay back £3.5m.
Mrs Godman, MSP for West Renfrewshire, said all three were the victims of an "unjust extradition treaty which breaches human rights". Mrs Godman, MSP for West Renfrewshire and deputy presiding officer at Holyrood, said all three were the victims of an "unjust extradition treaty which breaches human rights".
The Texan judicial system, she said, had "bled them financially dry".The Texan judicial system, she said, had "bled them financially dry".
"After 17 months of being tagged and under curfew in Texas, my son is drained emotionally and financially and has taken this step of plea bargaining with deep reluctance," she said."After 17 months of being tagged and under curfew in Texas, my son is drained emotionally and financially and has taken this step of plea bargaining with deep reluctance," she said.
"It is my firm belief that their sentence, at the very least, be served in a British prison."It is my firm belief that their sentence, at the very least, be served in a British prison.
"My future efforts will be directed towards that objective.""My future efforts will be directed towards that objective."
She added: "This has been a difficult and trying time for my family."She added: "This has been a difficult and trying time for my family."
'Terrible ordeal''Terrible ordeal'
The three men have admitted advising their former employer NatWest to sell part of a company owned by collapsed US giant Enron for less than it was worth.The three men have admitted advising their former employer NatWest to sell part of a company owned by collapsed US giant Enron for less than it was worth.
They then left the bank and bought a stake in the company, Swap Sub, which was sold on for a huge profit, making about $7.3m.They then left the bank and bought a stake in the company, Swap Sub, which was sold on for a huge profit, making about $7.3m.
Under an agreement the trio would pay that sum back to the Royal Bank of Scotland, NatWest's successor.Under an agreement the trio would pay that sum back to the Royal Bank of Scotland, NatWest's successor.
Trish Godman MSP has criticised her son 's treatmentTrish Godman MSP has criticised her son 's treatment
In return for the guilty pleas to one count of wire fraud, US prosecutors would ask for six other counts to be dismissed and support the trio's bid to "serve some of the sentence" in the UK.In return for the guilty pleas to one count of wire fraud, US prosecutors would ask for six other counts to be dismissed and support the trio's bid to "serve some of the sentence" in the UK.
The three men were extradited to the US under a treaty 17 months ago.The three men were extradited to the US under a treaty 17 months ago.
Bermingham, from Goring, south Oxfordshire, Mulgrew and Darby, of Lower Wraxall, Wiltshire, have all been described as "ordinary family men".Bermingham, from Goring, south Oxfordshire, Mulgrew and Darby, of Lower Wraxall, Wiltshire, have all been described as "ordinary family men".
Outside court, with all three defendants at his side, lawyer Reid Figel said the guilty pleas were "an important first step to bringing this terrible ordeal to an end".Outside court, with all three defendants at his side, lawyer Reid Figel said the guilty pleas were "an important first step to bringing this terrible ordeal to an end".
They remain on bail of $4m (£1.9m) and are confined to a specific area of Texas.They remain on bail of $4m (£1.9m) and are confined to a specific area of Texas.
Assistant Attorney General Alice Fisher, of the criminal division of the US Department of Justice, said the trio implemented a "secret and illegal" deal to yield "millions in profits for them personally at the expense of their employer".Assistant Attorney General Alice Fisher, of the criminal division of the US Department of Justice, said the trio implemented a "secret and illegal" deal to yield "millions in profits for them personally at the expense of their employer".
The three men are due to be sentenced on 22 February.The three men are due to be sentenced on 22 February.