Turkish Cypriot businessman Asil Nadir dies at 83

Turkish Cypriot businessman Asil Nadir passed away at the age of 83 on Saturday while undergoing treatment at a hospital in Nicosia, the capital of the Turkish Republic of Northern Cyprus (TRNC).

Nadir, who had been receiving medical care at Kolan British Hospital since Feb. 4, was admitted to the intensive care unit in his final days. His wife, Nur Nadir, announced his death on social media.

Last week, the hospital had issued a call for blood donations as his condition worsened.

About Asil Nadir

Born on May 1, 1941, in the town of Lefka in the TRNC, Asil Nadir moved to the U.K. with his family in his 20s and entered the textile industry.

He rose to prominence after acquiring shares in Polly Peck, a British company, through which he expanded into the food, electronics, and service sectors. Nadir also made significant investments in Türkiye, particularly in the electronics and media industries, acquiring newspapers such as Gunes and Gunaydin.

Nadir founded Cyprus newspaper, which became one of the country’s highest-circulating publications and contributed to the development of numerous journalists. However, his career was marred by legal troubles when he was accused of embezzlement in the U.K. He was convicted and sentenced to prison.

In 1993, after being released on bail for £3.5 million ($5.21 million as of December 1993), Nadir fled to the TRNC using his private jet. Seeking to clear his name, he voluntarily returned to the U.K. in 2010 to face trial. In 2011, he was sentenced to 10 years in prison by the Old Bailey, serving four years before being transferred to Türkiye to complete the remainder of his sentence.

Nadir was released in 2016 and subsequently returned to the TRNC, where he spent his later years.