- Anti-money laundering : Troika distorted ‘dirty money’ findings
- our view : Our View: Anastasiades giving more ammunition to opponents of a...
- attempted murder : Woman stabbed in the back in Ledra Street shop
- Cyprus : Efforts to keep provident fund haircuts as low as possible
- bank of cyprus : Cyprus Today
- Barrosso : Barroso: all available resources mobilised to help Cyprus
- Cyprus : ‘Cyprus now on the energy map’
- Cyprus : DISY deputy tables simple health-care solution
- Ayios Dometios : Packs of stray dogs roaming Green Line
- cabinet : Green light expected for net metering
Nadir could be back home within months
JAILED Turkish Cypriot Asil Nadir who was ordered by a UK court in November to pay back £5 million of the money he stole from his Polly Peck business empire, has reportedly come up with the money despite telling British judges he was broke.
According to yesterday’s Daily Mail, the payment will pave the way for him to secure a prisoner transfer to Turkey and from there back home to the north of Cyprus for ‘house arrest’.
Nadir, 71, was told in November to come up with the £5 million or face another six years in jail. He was jailed for 10 years in August after being found guilty of stealing £28.8 million from Polly Peck and its shareholders, and is currently incarcerated at Belmarsh.
He later claimed to be penniless after prosecutors demanded £60 million should be paid in compensation and interest to the administrators. His £1million-plus bill for a defence team was paid for by legal aid.
According to the Daily Mail, the UK Serious Fraud Office is convinced Nadir has hidden his money as he had rented a £21,000 per month Mayfair home while employing a driver and security before and during his trial. But he claims his family paid for it all.
The paper said that his glamorous second wife Nur, 28, spent his trial shopping in designer West End stores and riding horses before leaving the country when he was jailed.
It also said the outstanding £5million compensation that he will pay was provided by his friend, airline magnate Hamit Cankut Bagana.
The Times said Nadir, who has Turkish and British citizenship, would try to head to Turkey and that negotiations between the two countries about repatriation were at an advanced stage.
“The suggestion is that once in Turkey he will quickly return to northern Cyprus to serve his time under “house arrest” if at a source close to Nadir told the Daily Mail.
It said any deal would have to be signed off at Secretary of State level, which might leave the British government open to charges it was doing a favour for a disgraced former party donor.
Nadir fled from the UK to his native northern Cyprus in 1993 but returned in 2010 to face trial and ‘clear his name’. Polly Peck, a leading stock exchange conglomerate, collapsed in 1990 after Nadir stole money which he sent abroad through a complex series of companies.