Polly Peck controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2012
Asil Nadir theft conviction
Nadir was found guilty on ten counts of theft involving nearly £29 million from Polly Peck and was sentenced to ten years in prison. He had denied the allegations.
2002
Audit disciplinary proceedings
The Joint Disciplinary Tribunal fined Stoy Hayward £75,000 for its role as Polly Peck’s group auditor. A second accounting firm was also sanctioned in relation to audits of Northern Cypriot subsidiaries.
1993
Asil Nadir’s departure from Britain
Nadir left the United Kingdom after his bail lapsed and remained in Northern Cyprus for many years while facing allegations connected with Polly Peck.
1990
Polly Peck financial collapse and suspected fund transfers
Regulators and investigators examined large transfers from Polly Peck businesses to subsidiaries and related entities in Turkey and Northern Cyprus. The group’s complex structure, weak challenge to executive authority and unclear ownership of certain assets were central issues in the company’s collapse.