Polly Peck tycoon Asil Nadir remanded on bail

Fugitive tycoon Asil Nadir has been remanded on bail at the Old Bailey at his first court appearance on fraud and theft charges.

The businessman, who has evaded trial since 1993, is due to appear at another hearing on 15 October.

It is alleged Mr Nadir, 69, secretly transferred £34m out of his Polly Peck company, leading to its collapse.

His trial is not expected to take place until 2012 because of the complexity of the allegations.

On Friday he was driven to court for the brief hearing in a Jaguar, smiling at waiting photographers before being ushered into the court building.