BREAKING NEWS

Bailed ex-tycoon Asil Nadir arrested, released

By ASSOCIATED PRESS

DECEMBER 4, 2010 23:41

LONDON — Former tycoon Asil Nadir, who will face trial next year for allegedly stealing millions from his collapsed company, was arrested Saturday for allegedly breaching his bail conditions but was released hours later.

He said police had apologized.

Nadir, who once headed the Polly Peck business empire, is awaiting trial on charges of theft running into several million pounds.

Nadir returned to Britain in August, 17 years after he fled to Northern Cyprus. He has been charged with 66 counts of theft.

He was granted bail after posting a bond of 250,000 pounds ($395,000).

"Unfortunately, I have been a victim of an unlawful arrest, claiming that I had broken my bail conditions. That was not the case," Nadir told reporters after emerging from Charing Cross police station.

"I have been released with an apology, but I am hoping that this sort of unlawful behavior, as I have claimed for many years, does not take place in this country."

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