North Cyprus News | Asil Nadir May Pay £5m to Return to TRNC


North Cyprus News | Asil Nadir May Pay £5m to Return to TRNC

News is filtering through that a deal may be brokered whereby Mr Nadir will, after paying the £5m in compensation ordered by the British courts, be allowed to go to Turkey after having served less than a year of the 10 year sentence he received after being found guilty of embezzlement.

That will be very nice for Mr Nadir, although many of his victims of the Polly Peck scandal may feel that having evaded the legal consequences of his crime for 20 years, his gamble paid off when he returned to the UK. Although Mr Nadir was found guilty of embezzling just £29 million, there are those who think it was a great deal more. £5 million plus less than a year in prison wipes the slate clean? Not, I would think, in the minds of many.

It is alleged that the custodians of his money have kept it safe, ready for his home coming.  Would that the custodians of the Kulaksiz 5’s homes have done such a good job.

“Asil Nadir may return to TRNC

Lawyers representing businessman Asil Nadir, sentenced to 10 years in jail in the UK are trying to broker a deal whereby he is transferred to Turkey. However, before this, Nadir must pay £5 million in compensation to investors as ordered by an Old Bailey judge. In addition he may not appeal against his conviction and would also have to relinquish his British passport.

If negotiations are successful, Nadir could return to North Cyprus having spent less than one year for embezzling £29 million from his company, Polly Peck.

The deal, which would have to be signed by the Secretary of State for Justice, Chris Grayling, is expected to create a massive uproar among the many thousands of investors if Nadir ends up in Turkey.

This event also raises the question regarding Nadir’s current finances as he has claimed to be bankrupt and living on the good graces of his mother and wife.” [LGC News]

Power to the people

Citizen Smith

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