UK tycoon Asil Nadir goes on trial for theft
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Last Updated: Tuesday, January 24, 2012, 00:00
  
London: The founder of the collapsed Polly Peck business empire will go on trial in London in one of the country's biggest ever fraud trials.

Asil Nadir is charged with 13 counts of theft for allegedly taking around USD 51 million from the business.

Nadir built Polly Peck from a small textile company into a conglomerate with interests in textiles, fruit and electronics in the 1980s and fled to the Turkish part of Cyprus after the business collapsed in 1990.

He returned to England to face charges in 2010 after being assured he would be granted bail.

Nadir, who is now 70, denies any wrongdoing. The trial is scheduled to begin in London's Central Criminal Court today.

PTI


First Published: Tuesday, January 24, 2012, 00:00


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