LEADING NEWS SOURCE FOR TURKEY AND THE REGION

EUROPE > Turkish-Cypriot tycoon Asil Nadir guilty of theft

LONDON - Agence France-Presse

Print Page Send to friend »
Turkish-Cypriot businessman Asil Nadir arrives at the Old Bailey court in central London on August 20, 2012 as the jury deliberates on a verdict in his trail accused of theft from his firm Polly Peck International.  AFP photo

Turkish-Cypriot businessman Asil Nadir arrives at the Old Bailey court in central London on August 20, 2012 as the jury deliberates on a verdict in his trail accused of theft from his firm Polly Peck International. AFP photo

Turkish-Cypriot tycoon Asil Nadir, formerly one of Britain's most notorious fugitives, was found guilty of three counts of theft by a British court on Monday.

The jury at the Old Bailey in London was still considering a further nine counts of theft after Nadir, one of the highest-profile businessmen in Britain in the 1980s, denied stealing 150 million ($235 million, 188 million euros) from his business empire.
 
He was cleared of one count of theft.
 
Nadir was arrested in 1990 after his company Polly Peck International went into administration with debts of 550 million, and he was charged with more than 60 counts of theft.
 
Three years later, he fled for Turkish-controlled northern Cyprus, which does not have an extradition treaty with Britain.
 
He returned to Britain two years ago in a dramatic bid to clear his name.

August/20/2012

PRINTER FRIENDLY Send to friend »

READER COMMENTS

Notice on comments

The Prisoner

8/24/2012 12:48:01 PM

dogan, I'm afraid you're totally wrong! However the goverment of the time didn't like the guy so there was some bullying and underhand tricks played by Thatcher etc. Polly Peck was totally overextended on debt (like most large empires) and was doomed but the way it was dealt with was sneaky. Have met some of the guy's old employees in TRNC and they think the world of him, so he must have been an alright guy in person though.

Chris Green

8/21/2012 6:01:04 PM

There is a lot more to come out of this case and may be the subject of a book. I just wish I was the one writing it! As for Asil bey, I bet he regrets returning to the UK but then again, he must have been convinced that he would be found guilty, must less still actually going to jail, a fate surely that awaits him now!

dogan kemal ileri

8/20/2012 8:28:42 PM

The British government is responsible for bringing down Asil nadir's empire when they sent the serious fraud squad in to examine Pollylecs books.Pollypecs market value slumped overnight as a result of this action and the company duly went from a powerful and highly profitable trading company to zilch.Who took this decision in the government and what were their motives nobody knows.Asil Nadir was wrong to go awol and he is doubly wrong to come back.The government knew the outcome of their actions

Tayyar Abi

8/20/2012 6:21:20 PM

Behind every fortune lays a crime.
< >

MOST POPULAR

AcerPro S.I.P.A HTML & CSS Agency