David Bermingham, 44, Gary Mulgrew, 45, and Giles Darby, 44, the so-called NatWest Three, admitted one wire fraud charge after a plea bargain.
A Texas judge must approve the sentence agreed as part of the deal. The bankers had faced up to 35 years in prison.
They admitted conspiring with ex-Enron staff to defraud NatWest of $19m (£9m) and then split $7m between themselves.
A Texas judge must approve the sentence agreed as part of the deal. The bankers had faced up to 35 years in prison.
They admitted conspiring with ex-Enron staff to defraud NatWest of $19m (£9m) and then split $7m between themselves.
The men they conspired with - Andrew Fastow and Michael Kopper - are already in jail.
According to the charges brought by prosecutors, the three men advised their former employer, NatWest, to sell part of a firm owned by Enron for less than it was worth.
The three men then left the bank and bought a stake in the Enron-owned company, before selling it on at a higher price for a profit.
NatWest payback
Mr Bermingham of Goring, Oxfordshire, Mr Mulgrew, a Glaswegian who now lives in Brighton, Sussex, and Mr Darby of Lower Wraxall, Wiltshire, will be sentenced on 22 February and hope to serve their jail term in the UK.
They had previously protested their innocence to seven charges.
"By changing their plea, Gary, Giles and David have fully accepted the responsibility for the significant lapse of judgement that led to the filing of these charges and which has caused them to be separated from their family in the UK for more than 17 months," lawyer Reid Figel said.
As part of the plea bargain, they are to pay $7.35m to the Royal Bank of Scotland, which now owns NatWest.
"Under the terms of the agreement... the three have agreed to immediately pay RBS $1.2m," RBS Group said in a statement.
"Judgement in favour of RBS is also being entered against them at the High Court, London for an additional $6m. This will be in full and final satisfaction of RBS' claims against them."
According to the charges brought by prosecutors, the three men advised their former employer, NatWest, to sell part of a firm owned by Enron for less than it was worth.
The three men then left the bank and bought a stake in the Enron-owned company, before selling it on at a higher price for a profit.
NatWest payback
Mr Bermingham of Goring, Oxfordshire, Mr Mulgrew, a Glaswegian who now lives in Brighton, Sussex, and Mr Darby of Lower Wraxall, Wiltshire, will be sentenced on 22 February and hope to serve their jail term in the UK.
They had previously protested their innocence to seven charges.
"By changing their plea, Gary, Giles and David have fully accepted the responsibility for the significant lapse of judgement that led to the filing of these charges and which has caused them to be separated from their family in the UK for more than 17 months," lawyer Reid Figel said.
As part of the plea bargain, they are to pay $7.35m to the Royal Bank of Scotland, which now owns NatWest.
"Under the terms of the agreement... the three have agreed to immediately pay RBS $1.2m," RBS Group said in a statement.
"Judgement in favour of RBS is also being entered against them at the High Court, London for an additional $6m. This will be in full and final satisfaction of RBS' claims against them."
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