In the not too distant future, David Bermingham, Gary Mulgrew and Giles Derby may find themselves on an aeroplane to the US. Upon arrival, the three former Nat West bankers will be brought before a Texas court to face charges in respect of an £11m fraud arising out of the collapse of Enron. The trial may last many months and it is unlikely any of the defendants will be granted bail. If their extradition eventually takes place, it will be despite the fact that nearly all of the alleged criminal acts took place in the UK, and in circumstances where the UK authorities have shown little appetite for investigating, let alone prosecuting, the matter.
In a separate action, Ian Norris, the former chief executive of Morgan Crucible, has recently been arrested at the request of the US Government. He is currently facing extradition proceedings at Bow Street Magistrates’ Court in relation to allegations of price-fixing in the 1990s. This is despite the fact that price-fixing or cartel activity was not a crime in the UK until 2003. Nevertheless, the US is seeking extradition on the grounds that the alleged criminal activity amounted to a fraud.
