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Hand back Nadir cash says Tory.


THE man who was Tory treasurer when the party received hundreds of thousands of pounds in donations from Asil Nadir's Polly Peck business empire has called on David Cameron to hand back the "tainted" money.

Lord McAlpine said the Prime Minister was under a "moral duty" to return the political gift after the former fugitive tycoon was jailed for 10 years yesterday.

The sentencing of Nadir, who donated pounds 440,000 to the Tories during the 1980s, came a day after he was convicted of stealing pounds 28.8 million from the global business he built from an east London textile company.

Urging the governing party to return the money, Lord McAlpine said: "It is tainted money and it shames the Conservatives if they hang on to it. They have a moral duty to give it back."

He said the money should be paid to Nadir's creditors, some of whom lost their life savings when Polly Peck International (PPI) crashed leaving debts of pounds 550 million.

Nadir, who was once 36th on the Sunday Times Rich List, was found guilty of 10 counts of theft from the Stock Exchange high performer between 1987 and 1990.

The 71-year-old fled Britain for his native Northern Cyprus in May 1993 but returned voluntarily in August 2010 to face trial. The amount he stole is the equivalent of pounds 61.6 million today. The prosecution had alleged it was part of pounds 150 million taken from the company.

Old Bailey judge Mr Justice Holroyde said Nadir stole the money out of "pure greed" and that his behaviour had contributed to PPI crashing. Investors who lost money included large institutions, small investors and pension funds.
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Publication:Daily Post (Liverpool, England)
Date:Aug 25, 2012
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