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Asil Nadir facing jail for £29m Polly Peck thefts | Asil Nadir facing jail for £29m Polly Peck thefts |
(40 minutes later) | |
Ex-tycoon Asil Nadir suffers from heart disease and high blood pressure, his sentencing hearing at the Old Bailey has heard. | |
Nadir, 71, is to be sentenced after being found guilty of 10 charges involving the theft of nearly £29m from his Polly Peck empire. | |
Polly Peck International, once a major UK company, collapsed in 1990 after a Serious Fraud Office investigation. | Polly Peck International, once a major UK company, collapsed in 1990 after a Serious Fraud Office investigation. |
Nadir fled the UK in 1993 while awaiting trial, but returned in 2010. | |
His lawyer, Philip Hackett QC, said Nadir had coronary heart disease and high blood pressure. | |
He said he returned to Britain voluntarily to face "onerous court proceedings" despite being advised by doctors in his native Cyprus it would jeopardise his health. | |
Six jurors have returned to hear Nadir being sentenced and his wife Nur, 28, has sat by herself near the dock. | Six jurors have returned to hear Nadir being sentenced and his wife Nur, 28, has sat by herself near the dock. |
The seven-month trial at the Old Bailey ended on Wednesday and the sentencing hearing has now begun, with Mr Hackett outlining mitigation on Nadir's behalf. | |
Mr Hackett said Nadir was of good character and he said he should receive credit for being a "dynamic leader of outstanding ability" who created PPI virtually out of nothing. | |
He said it was a close family company. | |
The court was told that, up until July this year, the prosecution costs totalled £3,296,626. | |
The judge, Mr Justice Holroyde, confirmed Nadir would be eligible for release after serving half his sentence. | |
Mrs Nadir has said her husband would appeal against his convictions. | Mrs Nadir has said her husband would appeal against his convictions. |
After fleeing the UK, Nadir remained a fugitive in northern Cyprus until two years ago. | After fleeing the UK, Nadir remained a fugitive in northern Cyprus until two years ago. |
The Turkish-controlled territory is not recognised as a state and has no extradition treaty with the UK. | The Turkish-controlled territory is not recognised as a state and has no extradition treaty with the UK. |
He was remanded in custody by Mr Justice Holroyde on Monday after the first of his convictions, and is understood to have been held at Belmarsh prison in south-east London. | He was remanded in custody by Mr Justice Holroyde on Monday after the first of his convictions, and is understood to have been held at Belmarsh prison in south-east London. |
In the witness box at his trial he claimed he had not believed he would get a fair trial in the early 1990s but had decided to return in an attempt to clear his name. | In the witness box at his trial he claimed he had not believed he would get a fair trial in the early 1990s but had decided to return in an attempt to clear his name. |
After he was led away on Wednesday, his wife said: "A guilty man does not come back to face justice of his own accord. | |
"My husband came back voluntarily. Polly Peck was his life. He wants justice for himself and for the tens of thousands of shareholders and employees." | "My husband came back voluntarily. Polly Peck was his life. He wants justice for himself and for the tens of thousands of shareholders and employees." |