Asil Nadir, the flamboyant Turkish Cypriot businessman who built a vast business empire before fleeing to Cyprus to evade justice for stealing millions, has died at the age of 83. Nadir's death was confirmed by his British lawyer after he passed away at Kolan British Hospital in Cyprus following several weeks in intensive care due to pneumonia.
Asil Nadir, the flamboyant tycoon who built a business empire from humble beginnings before fleeing to Cyprus to evade justice for plundering millions, has died at the age of 83. Nadir, a Turkish Cypriot businessman, passed away on Sunday at Kolan British Hospital in Cyprus after several weeks in intensive care due to pneumonia. His death was confirmed by his British lawyer.
Once one of Britain's richest men and a prominent donor to the Conservative Party, Nadir's story was one of dramatic highs and crushing lows. He rose from selling newspapers as a child in Cyprus to become a property tycoon and head of the vast Polly Peck International (PPI) conglomerate in the 1980s. However, his empire crumbled when he was convicted in 2012 of stealing £28.8 million from PPI. He fled Britain for his native Northern Cyprus in 1993 but returned voluntarily in 2010 to clear his name and face trial. Nadir always maintained he had balanced the books by transferring money within his business, but the courts found against him. He served four years of a 10-year sentence before being transferred to a Turkish prison in 2016. After a single night in jail, he was released and allowed to return to his luxurious villa in Northern Cyprus. Nadir's controversial release after reportedly paying millions to investors he had defrauded and legal aid agencies sparked outrage and accusations of him 'buying his freedom'. His case was a long and complex saga, with the Serious Fraud Office's investigation lasting 22 years and costing taxpayers an estimated £20 million. Critics of Nadir expressed their anger at his apparent ability to escape the full consequences of his actions, while supporters highlighted his contributions to the Turkish Cypriot community and his efforts to rebuild his reputation
ASIL NADIR POLLY PECK CYPRUS BUSINESS TYCOON FRAUD CONVICTED DEATH UK
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