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| Polly Peck tycoon Asil Nadir held over bail breach | Polly Peck tycoon Asil Nadir held over bail breach |
| (40 minutes later) | |
| The former Polly Peck tycoon Asil Nadir has been arrested for allegedly breaching his bail conditions. | The former Polly Peck tycoon Asil Nadir has been arrested for allegedly breaching his bail conditions. |
| It is understood the businessman, who returned to the UK in August having evaded trial since 1993, is being held at a London police station. | It is understood the businessman, who returned to the UK in August having evaded trial since 1993, is being held at a London police station. |
| It is alleged Mr Nadir, 69, secretly transferred £34m out of his Polly Peck company, leading to its collapse. | It is alleged Mr Nadir, 69, secretly transferred £34m out of his Polly Peck company, leading to its collapse. |
| His trial is not expected to take place until 2012 because of the complexity of the allegations. | His trial is not expected to take place until 2012 because of the complexity of the allegations. |
| Mr Nadir was remanded on bail at the Old Bailey at his first court appearance on fraud and theft charges on 3 September 2010. | Mr Nadir was remanded on bail at the Old Bailey at his first court appearance on fraud and theft charges on 3 September 2010. |
| His bail conditions included surrendering his passport, reporting to a police station once a week, being prohibited from going near any airport and a curfew between midnight and 0600 BST. | His bail conditions included surrendering his passport, reporting to a police station once a week, being prohibited from going near any airport and a curfew between midnight and 0600 BST. |
| The BBC's legal affairs analyst Clive Coleman said it was not clear which bail condition Mr Nadir had breached, but he is believed to be being held at Charing Cross Police Station in central London. | |
| No extradition | |
| A Metropolitan police spokesman said: "We can confirm that a 69-year-old man has been arrested at an address in London W1 for being in breach of his bail conditions. | A Metropolitan police spokesman said: "We can confirm that a 69-year-old man has been arrested at an address in London W1 for being in breach of his bail conditions. |
| "He is currently in custody at a London police station." | "He is currently in custody at a London police station." |
| Earlier this year, Mr Nadir let it be known that he was prepared to return to the UK on condition that he was granted bail while his case was heard, rather than being held in custody. | |
| The Serious Fraud Office had agreed not to oppose bail if stringent conditions were imposed. | |
| Mr Nadir had faced 66 counts of theft and £34m fraud allegations when he fled to the Mediterranean island. | |
| The UK has no extradition arrangements with the Turkish Cypriot government in the breakaway republic of northern Cyprus. | |
| Mr Nadir and his 26-year-old wife Nur are renting a £20,000-a-month house in Mayfair, central London. |