A British judge said on Friday that a British businessman who has been living in Turkish Cyprus for 17 years to avoid fraud charges can remain free during his trial.

The Independent has reported that at a hearing at the Old Bailey in London, Asil Badir's lawyers negotiated stringent conditions for his freedom. The terms include returning to Britain by Sept. 3, posting 250,000 pounds ($392,000) security, electronic monitoring and handing over all documents that could be used to travel.

Mr. Justice David Bean said, "I think it is desirable that the legal limbo as to Mr. Nadir's bail status should be brought to an end and he should be given the opportunity to submit to the jurisdiction of this court by attending in person."

Nadir, 69, left England in 1993, flying from a Dorset village in a small plane. Since then, he has built another business in Northern Cyprus but has been trapped there.

It has been reported that he was charged with stealing 34 million pounds ($53 million) from his company, Polly Peck. Polly Peck crashed in 1990 in one of the most spectacular failures in British history, and investigators said Nadir had transferred millions of pounds to accounts in Northern Cyprus.

He is innocent, pointing out that he was Polly Peck's largest shareholder, says Nadir, once a major Conservative Party donor. He has said he is happy in his new life but wants to clear his name. (With Inputs from Agencies)