Asil Nadir sentenced to 10 years

Asil Nadir, whose collapsed business empire included the charter airline Noble Air, has been jailed for 10 years for theft.

The 71-year-old, who suffers from coronary heart disease, is likely to serve half his term before being released on parole.

He is currently being held in high security Belmarsh Prison, but he is expected to be transferred to an open prison within days.

Sentencing him, the High Court judge Mr Justice Holroyde said Nadir was guilty of "greed" and "theft on a grand scale".

His company Polly Peck, which included the charter carrier Noble Air, collapsed in 1990 but Nadir fled to his native northern Cyprus days before his trial.

He returned to Britain in 2010, claiming he wanted to clear his name, but yesterday he was found guilty of stealing £28.6m. Justice Holroyde said the theft was a contributing factor in Polly Peck's collapse.

The Serious Fraud Office said a claim would be made for compensation to be paid by Nadir to the administrators of Polly Peck International. A hearing to decied if Nadir should be made to be pay will be held on September 27.

  

Friday, August 24, 2012

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