Nadir gets 10 years in jail for stealing
Source: Agencies |
August 24, 2012, Friday
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A BRITISH judge has sentenced Turkish Cypriot tycoon Asil Nadir to 10 years in prison following his conviction on charges of stealing millions from his collapsed business empire.
Judge Timothy Holroyde yesterday sentenced Nadir to consecutive sentences of five years each, which would allow Nadir to be released on parole after five years.
Nadir, 71, was convicted after a seven-month trial of stealing a total of 28.6 million pounds (US$45 million) from Polly Peck International, which he built from a small textile firm into a conglomerate with interests in food, electronics and leisure.
The firm collapsed in 1990 with debts of 550 million pounds. Nadir fled to Northern Cyprus shortly before he was to stand trial in 1993.
He returned voluntarily two years ago, saying he wanted to clear his name.
Sentencing Nadir, Holroyde said he had taken account of Nadir's voluntary return, his age and his heart condition, as well as the two years he had spent wearing an electronic tag to prevent absconding.
The judge commended Nadir as "a man of considerable charm and unfailing courtesy."
"But I have no hesitation in concluding that you have shown not the slightest remorse for your crime," he said.
Judge Timothy Holroyde yesterday sentenced Nadir to consecutive sentences of five years each, which would allow Nadir to be released on parole after five years.
Nadir, 71, was convicted after a seven-month trial of stealing a total of 28.6 million pounds (US$45 million) from Polly Peck International, which he built from a small textile firm into a conglomerate with interests in food, electronics and leisure.
The firm collapsed in 1990 with debts of 550 million pounds. Nadir fled to Northern Cyprus shortly before he was to stand trial in 1993.
He returned voluntarily two years ago, saying he wanted to clear his name.
Sentencing Nadir, Holroyde said he had taken account of Nadir's voluntary return, his age and his heart condition, as well as the two years he had spent wearing an electronic tag to prevent absconding.
The judge commended Nadir as "a man of considerable charm and unfailing courtesy."
"But I have no hesitation in concluding that you have shown not the slightest remorse for your crime," he said.
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