Former Polly Peck chairman to return to UK

Link: Polly Peck auditors ‘reprimanded’

Nadir fled the UK for the Turkish Republic of Northern Cyprus just before he was meant to stand trial at the Old Bailey, after Polly Peck, the former FTSE-100 fruit and electronics business, collapsed in 1990.

According to The Guardian Nadir plans to return to the UK in an effort to clear his name. The Serious Fraud Office said it would pursue charges against him.

In April, the Joint Disciplinary Scheme fined three former auditors of Polly Peck’s Near East subsidiary £10,600 and ordered them to pay costs of £125,000.

Polly Peck was once the darling of the FTSE-100 before it collapsed in October 1990 under the chairmanship of Asil Nadir with debts totalling £551m.

Related reading