Serious Fraud Office hunts Nadir funds

The Serious Fraud Office prosecutor has said that they will be pursuing inquiries to determine where the remainder of Asil Nadir’s funds are. They will be specifically investigating Mr Nadirs sister Bilge Nevzat, who is the General Manager of Kibris newspaper who had earlier testified to the Court by video link that Mr Nadir lived on handouts from friends and family but had no funds of his own.

Last week, Mr Nadir appeared at the Compensation Court in relation to the funds he embezzled from his Polly Peck Group that he is already serving a 10 year prison sentence for where he was ordered to pay £5million compensation within 2 years or face a further 6 years in jail.

At the Compensation Court, Judge Holroyde said that that he did not accept Mr Nadir’s pleas that he was penniless and had no further assets – a statement described by the prosecution as ‘a sham’.

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