One of Britain's most notorious fugitives, Nadir arrived back in the UK in an attempt to clear his name, 17 years after fleeing the country in a private jet. He landed in the cargo area at Luton airport just before 1.
Special arrangements were put in place for Nadir's arrival at Luton: as well as having his documentation checked on the plane, he was allowed to leave for central London via a gate normally reserved for the transfer of cargo to and from planes.
The SFO's director, Richard Alderman, who has already killed off some investigations started under his predecessors, will have to decide how many of the 66 counts of theft and false accounting on the original indictment it is now practical to pursue — and whether to do so is in the public interest.
He has been critical of expansive SFO cases in the past and may want to cull many counts. So far, however, he has given no indication that he is willing to throw in the towel entirely.
Earlier this summer new bail arrangements were agreed which will allow Nadir, who must wear an electronic tag, to stay at an address in Mayfair rather than be locked up, as is more typical for defendants regarded as potential flight risks.
Alderman surprised many by not opposing these new bail terms, feeding speculation that he has already struck a deal with Nadir's lawyers. A resolution of allegations against the fallen Polly Peck tycoon may end up being one of the last high-profile episodes in the SFO's chequered history, if Conservative plans to fold the anti white-collar crime agency into a larger economic crime unit, encompassing parts of the Financial Services Authority and the Office of Fair Trading.
Mr Nadir denied there was any such conspiracy and said he was devastated by the allegation. He said his home was raided in April and all his legal documents were taken away.
In court, on 20 April he urged Judge Tucker to help him get the documents back. But Mr Nadir said the judge told him he was powerless to assist. Two weeks later he flew to Turkish-occupied northern Cyprus. Mr Nadir told the court he was "a totally broken man" when he left the UK months before being prosecuted for fraud in Mr Hackett said: "The case was opened in this trial by prosecuting counsel that you left because you were guilty, in effect, and didn't want to stand trial - is that true?
Mr Nadir returned to the UK in August to face the charges. He was asked whether he had stolen money from PPI and whether he was guilty or not guilty. Mr Nadir's case is that the pounds he took out of the company were covered by Turkish lira from investors and his family.
He returned to the UK in August Nadir employee 'tore up evidence'. Nadir 'needed tonnes of cash'. Nadir 'stole to inflate shares'. Mr Nadir said he arrived at the board meeting in October "too late" to stop PPI being put into administration. The trial continues. Published 2 May
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