Nadir surety faces ruin for pounds 1m bond

A BUSINESSMAN who pledged pounds 1m surety to guarantee that Asil Nadir, the fugitive tycoon, would turn up for his trial faces financial ruin after two High Court judges yesterday rejected his argument that he should not have to pay any of it, writes Heather Mills.

However, the court lifted next Monday's deadline by which time Ramadan Guney would have had to pay pounds 650,000 - or face two years in prison. Mr Guney said through his lawyers that he would appeal against the decision.

The Turkish Cypriot, a distant relative of Nadir's, was ordered last July to forfeit the money by the Nadir trial judge, Mr Justice Tucker. He decided that Mr Guney had not taken all reasonable steps to ensure Nadir surrendered to bail and stood trial.

Nadir, who faced theft and false accounting charges involving more than pounds 30m, fled to northern Cyprus last May and has broken pounds 3.5m in bail bonds. His ex-wife, Aysegul, was also ordered to pay pounds 500,000 or face 18 months' jail.