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The Natwest Three: victims of an unjust and one-sided treaty
The case of the Natwest Three is no ordinary fraud case. The plight of the three bankers has raised concerns about the fairness of Britain's 2003 extradition treaty with the US, and the negative effect it could have on British business.
The Natwest Three: the case of the one-sided treaty
The NatWest Three are alleged to have committed a crime in Britain, while operating in Britain with a British employer, as The Spectator points out, yet they are to stand trial in the US. Blame it on the "debacle" of an extradition treaty signed between the US and UK in 2003. The governments agreed that both countries could extradite criminals primarily terrorist suspects without having to present prima facie evidence. Britain has ratified the treaty, but the US hasn't, despite finding the time to ratify extradition treaties with Lithuania and Peru.
As matters stand, "US marshals can stroll into town and haul us off" without even so much as a prima facie case, while we have no such rights over US citizens, says Damian Reece in The Daily Telegraph. "Does that make you feel a little less safe in your home?" "It cannot be right," says Boris Johnson, also in The Daily Telegraph, that we hand over these bankers simply because their actions are thought to have some bearing on the Enron imbroglio; their alleged crimes took place here and no UK authority intends to prosecute them.
Meanwhile, there are still IRA suspects at large in the US who will never be extradited to the UK, thanks to the Irish/American lobby the reason the US will almost certainly never ratify the 2003 treaty themselves. The Labour government is failing to defend its citizens; it should "put this unjust and one-sided treaty on hold", easing transatlantic tensions and restoring "symmetry" to US/UK relations. This affair has highlighted an "appalling breach of trust" in a long-treasured relationship, says The Spectator.
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Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
It has hardly helped matters that Tony Blair insisted in parliament last week that the US and Britain have the same evidentiary requirements in extradition cases, says William Rees Mogg in The Mail on Sunday. "Is he a liar or is he merely ignorant of matters on which he has a duty to have informed himself?"
But it's not just Blair's renewed kow-towing to the US that has prompted a groundswell of support for the NatWest Three among business luminaries.
There is a "witch hunt" in the US for white-collar criminals, says Richard Wachman in The Observer. Following a series of corporate frauds, "vicious sentences" are now the norm; the deceased Enron chairman Kenneth Lay could have been sentenced to 185 years, explains Patience Wheatcroft in The Sunday Telegraph. That's why 98% of those indicted plead guilty before a trial. So companies operating in the global marketplace are worried they could end up facing a prosecutor in a system that does not seem to offer a fair trial.
Global firms could soon be doing a lot less business in London, says
Anthony Hilton in the Evening Standard. Paris and Frankfurt, hoping
to rival London as global financial centres, will be tempted to remind businesses that they would never hand over workers on the basis of a one-sided treaty. The message will be: "move out of London before you get your collar felt" by a US attorney.
Join more than 165,000 subscribers and keep yourself informed with the latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
