Tycoon Nadir 'stole £150 million', British court hears

Turkish-Cypriot business magnate Asil Nadir, who was one of Britain's most infamous fugitives, stole almost £150 million from his Polly Peck business empire, a court heard Monday. The prosecution at the Old Bailey in London said Nadir, 70, abused his position as chairman and chief executive of the company in the 1980s and early 1990s and stole money for the benefit of himself, his family and his friends.
The court heard the money, the current equivalent of 180 million euros or $234 million, went through a complicated web of transactions, which included being transferred to a bank Nadir owned in his native northern Cyprus.