20 Aug 2012

Asil Nadir guilty on three counts of theft

Former Polly Peck businessman Asil Nadir is found guilty of three charges of theft, while the Old Bailey jury retires for the night with nine more charges still to be considered.

Mr Nadir was found guilty of stealing £1.3m to secretly buy Polly Peck shares to bolster its stock exchange price.

The other guilty counts related to £1m spent on antiques and £3.25m which was placed in 19 different end destinations.

He was cleared of one count involving £2.5m to pay his income tax bill.

The jury is still considering a further nine counts after being given a majority direction by the judge. The jury has been sent home until tomorrow.

The trial has lasted seven months, during which two jurors were discharged for health reasons.