Tycoon Asil Nadir, now 69 years old, has finally returned to the UK to face allegations of mass fraud. The owner of multi the folded billion pound Polly Peck Empire is accused of stealing 34 million pounds from it. Nadir left it rather late to return to face justice, 17 years to be exact! As there is no extradition treaty between the U.K and Northern Cyprus, bringing Nadir to trial had not been possible. This was changed by some legal loopholes that allowed his return.
Nadir maintains his innocence and says he will shed light on why he fled for so long. He is due to face trial at The Old Bailey, but due to the time passed it is unlikely that he will go to full trial before 2012. He was granted bail on the condition that he returns to court the next day.
Nadir has obviously managed to save some money; he is staying in a top Mayfair property which costs him £20,000 a month. He faces 66 counts of fraud, which he says are “gross injustices” and he is excited to clear his name after the “injustices” he has had over the last 20 years.
His fall from grace was a dramatic one in 1993, he had previously been named 36th on the Times rich list and even owned an Aegean Island. Ill health was cited as a main reason for his flight in 1993, only time will tell whether it is possible to hold a serious trial after all the time that has passed. This is underlined by our legal expert who stated “it will be very hard to prove either Nadir’s guilt or innocence with 17 years having passed since the allegations took place.”