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Turkish-Cypriot tycoon says he is penniless

September 28, 2012

LONDON: Asil Nadir, the former fugitive tycoon who was jailed last month for stealing millions of pounds, claimed on Thursday to be penniless as a London court sought to reclaim his assets as compensation.

Turkish-Cypriot Nadir, who was jailed for ten years last month for stealing 28.8 million pounds from his Polly Peck business empire in the late 1980s, told a compensation hearing at London’s Old Bailey court that he had no personal assets. The thefts by the flamboyant 71-year-old are equivalent to more than #61.6 million ($100 million) in today’s terms.—AFP