After 17 years, fugitive tycoon shows in UK court

LONDON

A Turkish Cypriot businessman who voluntarily returned to Britain after 17 years to face fraud charges learned Friday that he will have to wait more than a year for the trial which he insists will vindicate him.

Asil Nadir, 69, made a brief appearance at London's Central Criminal court. He faces 66 counts of theft for allegedly stealing 34 million pounds ($52 million) from his collapsed Polly Peck business empire, but prosecutors indicated that the number of charges may be reduced to as few as 15.

Prosecutors are trying to trace the original 183 witnesses who had been lined up to give evidence before Nadir fled to Northern Cyprus, which has no extradition treaty with Britain.

Justice David Bean set a provisional trial date of October next year.

Nadir, who returned to Britain last week, is free on bail but was compelled to surrender his passport. As he returned, he told Sky New that "my innocence is sufficient security for me."

Nadir took control of British textile company Polly Peck in 1980, using it as a vehicle for acquisitions including Del Monte's fresh fruit operations and Japan's Sansui Electric Co.

The company's share price collapsed after investigators began probing irregularities in Nadir family trusts, and it filed for bankruptcy protection in 1990.

Nadir fled to Cyprus on May 1993, four months before he was scheduled to face trial.