Fugitive allowed bail in London

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Fugitive allowed bail in London
LONDON, A British businessman who has been living in Turkish Cyprus for 17 years to avoid fraud charges can remain free during his trial, a British judge said Friday.

At a hearing at the Old Bailey in London, Asil Badir's lawyers negotiated stringent conditions for his freedom, The Independent reported. The terms include returning to Britain by Sept. 3, posting 250,000 pounds ($392,000) security, electronic monitoring and handing over all documents that could be used to travel.

"I think it is desirable that the legal limbo as to Mr. Nadir's bail status should be brought to an end and he should be given the opportunity to submit to the jurisdiction of this court by attending in person," Mr. Justice David Bean said.

Nadir, 69, left England in 1993, flying from a Dorset village in a small plane. Since then, he has built another business in Northern Cyprus but has been trapped there.

He was charged with stealing 34 million pounds ($53 million) from his company, Polly Peck. Polly Peck crashed in 1990 in one of the most spectacular failures in British history, and investigators said Nadir had transferred millions of pounds to accounts in Northern Cyprus.

Nadir, once a major Conservative Party donor, says he is innocent, pointing out that he was Polly Peck's largest shareholder. He has said he is happy in his new life but wants to clear his name.
 
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