Asil Nadir is granted legal aid to fight theft charges

Asil Nadir, the former Polly Peck tycoon, has been granted legal aid to fight the multimillion-pound theft charges he spent 17 years running from, a decision likely to leave taxpayers with a substantial bill.

The businessman, whose trial is due to begin in January, is expected to make a "substantial" contribution to his court costs but was granted assistance after an assessment of his finances, the Legal Services Commission said.

The former billionaire faces 13 counts of false accounting for allegedly plundering his FTSE 100-listed Polly Peck empire, which collapsed in 1990 with debts of more than £1.3bn, wiping out the savings and pensions of tens of thousands of investors.

Nadir was arrested shortly after the collapse but fled Britain for Turkish-occupied northern Cyprus in 1993 after being charged with 66 counts of theft totalling £150m, later reduced to £34m. He was arrested after returning to Britain in August last year.

A spokeswoman for the Legal Services Commission said Nadir, a Turkish Cypriot, could be entitled to claim up to £145 an hour to cover legal fees under means testing procedures introduced last year.

She said an investigation was under way to determine the extent of his holdings, which could be appropriated if Nadir is convicted. "If Asil Nadir is found guilty at his crown court trial, he may be required to pay a further contribution from his capital assets," she said. "The legal aid funding will be managed under a case plan by a specialist team at the Legal Services Commission and the costs incurred will be closely monitored."

Nadir, 69, is free on conditional bail pending a hearing at the Old Bailey that is expected to last up to four months. He is scheduled to attend a pre-trial hearing in November.