You are here: Home - Investing -

Nadir jailed for ten years for Polly Peck theft

0
Written by:
23/08/2012
Former Polly Peck International (PPI) owner Asil Nadir has been jailed for ten years for stealing £29m from his businesses 20 years ago, the BBC reports.
Nadir jailed for ten years for Polly Peck theft

The 71-year-old was found guilty of ten counts of theft at the Old Bailey earlier this week and was handed the lengthy prison sentence today.

He ran PPI, a major UK company, until 1990 when it collapsed after a Serious Fraud Office investigation. He fled to his native Northern Cyprus in 1993 while awaiting trial, however, he returned in 2010 to clear his name.

Nadir will be eligible for release after serving half his sentence.

Mr Justice Holroyde said: “You were a wealthy man who stole out of pure greed.”

Tagged:

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Remortgage lending bounces back in July

Remortgage lending was up 13% in July compared to the previous month as borrowers increase their loan size to allow...

Close