Having returned from self-imposed exile to face trial, the former Polly Peck head was convicted on 10 counts of theft from the company he built. He was acquitted on a further three counts. Following a seven-month Old Bailey trial the jury found that he had stolen £29 million although the SFO who prosecuted the matter made it clear that the true scale of the losses involved was nearer to £150 million. Nadir was sentenced to 10 years of imprisonment. For more see here.

JD VIEW—This result represents a significant success for the SFO and offsets recent setbacks. It is likely that Nadir will appeal his conviction with many commentators citing perceived inconsistency in the jury's verdicts as a potential ground of appeal.