ABTA?s former head of legal affairs, Riccardo Nardi has agreed to pay ?1 million to settle a civil case launched by ABTA.
He could still face jail following criminal proceedings in August.
An ABTA spokesman told TravelMole that Mr Nardi has agreed to pay the ?1 million last week, which means he will avoid a court hearing. The civil case against his wife continues.
Mr Nardi was arrested on alleged multiple fraud charges against ABTA. He and his wife Samantha are due to appear at the Crown Court on 10 August on criminal charges.
Report by Ginny McGrath
