Friday, 24 August 2012

UK: 'theft on a grand scale' and the sentencing of Asil Nadir

In December 1992 the Cadbury Committee published its report and code of best practice. A little short of twenty years later, one of the events that led to the Committee's formation, and which shaped the focus of its work, has returned to the news: the collapse of Polly Peck International plc, an apparently successful company. Asil Nadir, the company's chief executive and chairman, was sentenced to ten years' imprisonment yesterday having been found guilty by a jury of ten counts of theft from the company. The judge's sentencing remarks, directed at Mr Nadir, have been published on the England and Wales Judiciary website: see here (pdf). Five words from the opening paragraph dominate the news reports: "theft on a grand scale".

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