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Fugitive tycoon 'returning to UK'

Fugitive tycoon Asil Nadir has said he had endured 20 years of injustice as he flew back to the UK after two decades on the run.

The businessman was leaving his home in northern Cyprus ahead of the resumption of fraud hearings in London relating to the collapse of his Polly Peck empire.

Nadir is due to arrive at Luton Airport, where he will be met by Serious Fraud Office investigators to whom he is expected to surrender his newly issued British passport.

"Having endured this injustice for 20 years I feel it is time now to have a closure to this in a most acceptable way," he said.

Nadir is on £250,000 bail ahead of the September 3 hearing at the Old Bailey. He is also due to be fitted with an electronic tag as part of the court-imposed conditions.

The 69-year-old was facing 66 counts of theft involving £34 million fraud allegations in May 1993 when he fled Britain to northern Cyprus, which has no extradition treaty with the UK.

The Conservative Party donor, who presided over the collapse of Polly Peck, appeared in court the previous year but had not technically surrendered to his bail, so a subsequent arrest warrant, issued on the basis that he had breached his bail, was not valid.

Earlier this year, Nadir's legal team indicated he was willing to return to face trial, as long as he was granted bail.

The Serious Fraud Office agreed not to oppose bail in return for stringent conditions.

Nadir told The Times he felt "determined" ahead of the resumption of his courtroom battle. "I am very happy that what I have been striving for ... 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."


From Belfast Telegraph