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UK: Fugitive tycoon Nadir returns to face trial

Former Polly Peck boss Asil Nadir is coming back to UK from northern Cyprus.



London: One of Britain`s most high-profile fugitives was returning from northern Cyprus to face justice after 17 years` exile on Thursday amid claims that he stole millions of pounds from his collapsed firm.

Former Polly Peck boss Asil Nadir, 69, decided to come back from the Turkish-controlled north of the island, which has no extradition treaty with Britain, after being assured he could remain on bail during his trial.

In its heyday, Polly Peck was one of Britain`s biggest companies with interests in sectors from textiles to electronics.

It collapsed in 1990 and three years later, Nadir was charged with 66 counts of theft involving £34 million. He fled before his trial but denies any wrongdoing.

Nadir said he had faced an "injustice" but insisted there had been "no deal" to pave the way for his return to Britain.

"I feel it is time now to have a closure to this in a most acceptable way," Nadir told Britain`s Sky News television en route to Britain. "It cannot continue in this manner".

In an interview with The Times newspaper, he added that he was in a "determined" mood ahead of his return.

"I am very happy that what I have been striving for many years is finally coming to fruition -- to be able to go to England without any unnecessary threat of arrest and to be given the chance to put my case," he said.

The tycoon is due to arrive on Thursday at Luton airport, north of London, on board a plane carrying a small number of passengers including his 26-year-old wife Nur, lawyers and members of his personal staff.

Nadir is due to appear at the Old Bailey on September 03 for a preliminary hearing when a date for his full trial is likely to be set.

However, the trial itself will probably be lengthy and take place in 2011.

A court decided last month he would not face arrest if he comes back but would be subject to a number of bail conditions.

These include that Nadir gives officials advance notice of his arrival in Britain, deposits a security of GBP 250,000 (around EUR 300,000, USD 390,000) with the court and agrees to wear a tag allowing police to monitor his movements.

Nadir had been a donor to the Conservative Party before he fled Britain.

In 1993, a minister in then prime minister John Major`s government, Michael Mates, resigned over his links with Nadir.

Mates, who once gave Nadir a watch inscribed with the legend "Don`t let the buggers get you down", had written to the attorney general complaining about the way Nadir`s case had been handled.

Bureau Report

From Zee News

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