UK Tycoon Faces 6 More Years On Theft Charges

Law360, New York (November 2, 2012, 5:49 PM EDT) -- Former Polly Peck International PLC head Asil Nadir, sentenced in August to 10 years in prison for stealing funds from the electronics conglomerate, has been ordered by a U.K. court to pay £5 million ($8.01 million) or receive six more years in jail, the Serious Fraud Office said Friday.

Nadir was convicted on ten counts of theft Aug. 22 and sentenced the next day for stealing £29 million from the company, which collapsed in the 1990s amid an accounting fraud investigation by the SFO and other...
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