The 71-year-old - serving 10 years for stealing £28.8m from his Polly Peck empire in the 1980s - returned to the Old Bailey for a compensation hearing.
The prosecution said his claim that he relied on the generosity of friends and family was "an affront to common sense" and a "sham".
The trial judge is to decide if the administrators of Nadir's now defunct company can claim compensation.
Mr Justice Holroyde will also assess whether an order can be made to recover costs of the prosecution and legal aid.
Nadir fled the UK for Cyprus in 1993 while awaiting trial but returned in 2010 in an attempt to clear his name.
Source & Image : BBC
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