Lawyers for an Asian tycoon who is in hiding in Cyprus because he’s wanted in the UK in relation to £34 million fraud allegations are applying for him to get bail.

Conservative Party donor Asil Nadir fled Britian in 1993 after his business empire collapsed.

The 69 year old wants to come back to clear his name but a previous attempt to clear his name in 2001 was thrown out.

Nadir's application for bail is due to be heard by Mr Justice Bean, sitting at the Old Bailey.