In an open letter handed to Travel Weekly, Riccardo
Nardi admitted his actions were “panicked and ridiculous” and
apologised to ABTA and the industry.
Nardi, who swindled £1 million from the ABTA coffers, claims
he should be remembered for all the benefits he delivered during
his time as ABTA’s legal head.
“The real Riccardo Nardi is exactly the person you all saw flying
the flag for ABTA on so many matters,” he wrote. “The money I have
wrongly and inexcusably taken is a tiny fraction of the benefit I
have delivered.”
The letter, passed on via his solicitor at his Crown Court
sentencing on Wednesday (March 16), follows. It has been edited for
legal reasons.
___________________________
Riccardo Nardi
HMP Wandsworth
To Whom this May Concern
15 March 2005
Dear Sirs,
Readers of the travel and national press will have seen much
discussion of my case over the last year. A lot of comment over
this time has been fair and accurate but equally some has not. I
feel I owe a duty to apologise directly to ABTA members, their
employees and to ABTA’s staff who may not have seen my
previous apology to ABTA itself.
I felt that the trade press which was always very fair to me
whilst I worked at ABTA was the best way of communicating this
message.
Firstly I must say how truly sorry I am to everyone that any of
this has occurred. By now my barrister, Charles Ward-Jackson will
have explained how I got myself into a position where I desperately
and stupidly did what I did. There is little that I can add to all
of those details here, I have held up my hands and accepted my
guilt at the first possible legal opportunity to do so, and indeed
admitted everything to ABTA a year ago. My counsel will have by
now presented the truth openly and honestly to the court, the
public and the travel industry, you all deserve the truth. I wish I
could have said this earlier but the legal process slows everything
down for everybody.
I hope that everything that has been said on my behalf
illustrates that far from a cynical and carefully planned attack on
ABTA it was actually quite the opposite. It was rushed, panicked,
unprofessional and ridiculous. I found myself in a vicious circle
that I couldn’t seem to get out of and in the end got dragged
back into it following a personal bereavement after which with
hindsight I don’t think I cared if I was caught, I no longer
cared whether or not I was caught, I was just numb. Through 2003
until 2004 the guilt of what I had done became impossible to ignore
and whilst I was calm on the outside I now see that I unravelled
within. I am fully responsible for my actions and I hope that
readers will not think any less of ABTA. I loved ABTA as anyone
who has known me over the last 14 years will have seen clearly. I
was passionate about what ABTA stands for and won many victories
for ABTA and the industry as a whole. I also helped many of you,
reading this now, with your own business issues and tried to ensure
that the legal team was always there for members.
One cannot pretend to be motivated and passionate about what one
does, my passion was real for all to see and this is why my
criminal actions are just “not me”. The real Riccardo
Nardi is exactly the person you all saw flying the flag for ABTA on
so many matters, like PSC or Codes or Insurance for so many
years.
Please remember the good things I achieved at ABTA. The Legal
Department has consistently over the last 7 years been given the
highest member satisfaction ratings through its work and help given
to members.
The PSC victory was the first around the world and was mirrored
the world over with my help. Even the ABTA Board was reluctant to
believe me when I said we could and should fight the airlines in
court. That victory was worth £15million and £5-6million
a year every year since then to the trade.
Beating GIC and the OFT was the first ever case considered under
the Competition Act 1998, this was worth millions of pounds to the
industry and stopped insurers from controlling how you all sell
insurance.
The victory on Insurance Regulation, a jewel in ABTA’s
crown, is worth tens of millions of pounds a year. I alone took
that fight up. I spotted the problems the EU Directive could
bring, I wrote ABTA and the European lobbying position and I alone
lobbied MEPs and the EU Commission to change the draft Directive.
I succeeded against all the odds, including the £26billion
annual insurance industries mite. I then persuaded the UK
government not to regulate you all and personally put together all
of the statistics needed to back up my arguments and to show that
insurer’s claims about you were wrong.
My arguments in this insurance case were very simple. I told
the truth, I always did and scratched my own head in disbelief as
to how I hated my own present terrible situation.
Please then remember the good. ABTA, its members and the
industry are in a much better position now due to my good actions
than 8 or 9 years ago. The money I have wrongly and inexcusably
taken is a tiny fraction of the benefit I have delivered and that
ATBA has delivered to those reading this letter. This is not an
excuse for my wrongdoing but I hope that you will put all of this
into the balance when you consider my actions.
In the future agents and operators should be confident and
strong with the courage to stand up against pressure from other
parts of the industry or against new harmful legislation. This is
where ABTA is at its best. Only ABTA can present a proper united
agent/operator large/small, balanced position. Without all of
these elements any position put forward by a section of industry is
much weaker and less credible. You have a great unique
organisation in ABTA, use it and benefit from it. The staff there
are truly committed to the industry and I was privileged to have
worked with them.
Finally I must also apologise to the biggest and most vulnerable
victims in all of this, my wife and children.
Once again I apologise to you all. Please remember the benefits
I have delivered to you all over the years and which are helping
your businesses now. Please also see that this is a tragic
situation in the truly classical sense, i.e. I am someone who has
brought myself and my family down through my foolish actions.