Asil Nadir found guilty of three counts of theft

Former tycoon Asil Nadir has been found guilty of three counts of theft from Polly Peck International (PPI) at the Old Bailey today.

He was charged with 13 counts of theft worth £34m from the conglomerate between 1987 and 1990. He was cleared of one count.

PPI, a FTSE 100 company dealing in a range of industries, collapsed in 1990 with debts of £550m, after the Serious Fraud Office started an investigation into Nadir’s finances.

It was claimed Nadir stole millions from the company to pay off his own debts.