Asil Nadir’s Life Full of Bankruptcy and Embezzlement Accusations

Turkey’s first media holding boss Asil Nadir, known as Asil Nadir, has achieved various successes throughout his life that most people dream of. However, such great successes and various business relationships have brought about many allegations and accusations against him.

Well, Asil Nadir, the founder of Vestel, Reasons for living a life full of chaos What are they?

Turkish Cypriot businessman was born on May 1, 1941.

Although his family moved to England in 1963, Asil Nadir went to Istanbul to study at the faculty of economics. But by dropping out of school He started his business life at a young age.

After settling in London, Nadir’s family buys a company called Wear Well, which operates with a cash and carry system, which is a type of market in retailing. He went to Nicosia and He starts dealing with the textile business.

The textile products it produces are located in England and are on the verge of bankruptcy. It markets to the Middle East through a company called Polly Peck International. In the 1980s, this company, whose shares he bought, started to rise and Asil Nadir became one of the 100 richest business people in England.

In 1985, Nadir founded Vestel Elektronik Sanayi ve Ticaret A.Ş.

Operating in the province of Manisa, Vestel has been serving not only Turkey but also Turkey with its domestic production since then. The world’s largest technology companies manages to take its place among them.

Vestel’s activities starting in 1984, It has been maintained within Zorlu Holding since 1994 and company; It offers a wide range of products in the fields of white goods, consumer electronics, digital products and information technologies.

Asil Nadir, who did not limit his business life only to Vestel, opened the first branch of Pizza Hut in Turkey in Ataköy in 1988.

Moreover, with the advice of Turgut Özal, the Prime Minister of the period, he published the newspaper named Günaydın, from Haldun Simavi. 44 million Turkish lira and 5 million pounds sterling In return, it also takes over the media business by purchasing it. Then, he expanded his business by purchasing the Gelişim magazine group and some media outlets in TRNC.

However, such great wealth and success also brings with it various accusations of bankruptcy and embezzlement.

Asil Nadir, shares of Polly Peck International company accusations of improperly raising He faces a financial crisis and flies from Istanbul to England on a plane.

He was arrested on December 17, 1990, with an arrest warrant issued against him, and on that date, he was charged with 18 embezzlement crimes. If after 1 year The number of these charges reaches 76.

Asil Nadir, who was held in prison until 1993, escaped to TRNC with a private plane of his own after being released on £3.5 million bail in the same year. As a result of the trial completed in 2012, Guilty of embezzling £29 million is available.

The businessman, who is haunted by the accusations, He is sentenced to a total of 10 years in prison for 10 of 13 crimes. Subsequently, in 2013, the court in England decided that Asil Nadir would serve the remainder of his sentence in Turkey if he paid 5 million pounds to the investors he victimized.

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