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Asil Nadir may return to TRNC

20 January 2013

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.

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