Asil Nadir dead: Polly Peck mega-fraudster who carried out infamous £29million swindle dies aged 83
POLLY Peck mega-fraudster Asil Nadir — infamous for his £29million workplace swindle — has died at the age of 83.
The former billionaire died surrounded by family in hospital in North Nicosia, northern Cyprus.
He was initially taken there last month to be treated for suspected pneumonia.
Nadir’s wife Nur last night wrote online: “Our pain is endless.”
A funeral is set to take place this morning.
Turkish Cypriot Nadir bought British textiles firm Polly Peck in the 1970s.
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Its success earned him a spot on the Sunday Times Rich List.
The company collapsed in 1990 after a probe into fraud was launched.
Nadir fled the country at the time, but in 2010 was convicted of ten out of 13 counts of theft.
He is survived by his wife and six children.
A statement added: “He will be buried in Nicosia Cemetery.
“It is announced with sadness to all friends, relatives and loved ones.”
The controversial businessman purchased Polly Peck in the late 70s and took over as chief executive in 1980.
At its peak, Polly Peck was valued at £1.7 billion, with the company posting pre-tax profits of over £161 million, net assets of £845m and boasting more than 17,000 employees.