UK court grants former Polly Peck boss Nadir bail

Fugitive business tycoon Asil Nadir was granted bail by a London court on Friday providing he returns to Britain to face fraud charges relating to the collapse of his Polly Peck empire almost 20 years ago.
Nadir, 69, a Conservative Party donor, fled to northern Cyprus, which has no extradition treaty with Britain, in 1993 to avoid a 34 mln pound fraud trial.
The Serious Fraud Office, which is investigating the case, said he remained charged with 66 counts of theft.
Nadir, who denies any wrongdoing, has said he would stand trial to clear his name if he was not taken into custody. Granting bail, a judge at London's Old Bailey court said he hoped the move would end the "legal limbo" in the case.
The judge quashed an arrest warrant for him and imposed 10 bail conditions, the Press Association reported. These included a requirement for Nadir to be at the Old Bailey for a preliminary hearing on September 3.
He must also deposit 250,000 pounds with the court as a security before returning, give notice of his flight, submit to electronic tagging and surrender travel documents.
His Polly Peck empire included business interests as diverse as electronics and hotels. Before its collapse the firm was one of the fastest growing on the London stock market in the 1980s.
Nadir later tried to rebuild his fortune by starting various companies in Turkish-held territories of Cyprus, including a media group with the flagship Kibris newspaper.