corporate governance issues of the 1980's
2006-10-24 04:14:49 · 4 answers · asked by AUDREY M 1 in Business & Finance ➔ Corporations
The case against Asil Nadir is that he broke the law in a dozen different ways during the rapid expansion of Polly Peck in the Eighties. These include manipulating the share price, false accounting and unauthorised payments from the company to Mr Nadir and colleagues.
The only real lesson was lack of corporate governance oversight and an independent Board. A lot of money went missing an no one thought it was their job to ask questions. On top of those problems the regulator was utterly incompetent and only investigated when the fraud became obvious.
2006-10-25 04:58:31 · answer #1 · answered by popeleo5th 5 · 0⤊ 0⤋
asil nadir still,in northern cyprus wasn't too kind to my shares in polly peck and another of his companies which i cant remember the name now its been a long time but it did seem a sorry mess as the man was a good business man but when it comes to what happened and why will be a mystery to most of us as he got out of the country before he could be brought to trial
2006-10-28 02:59:37 · answer #2 · answered by srracvuee 7 · 0⤊ 0⤋
Gawd! I can't remember. All I know is that last I read Asil Nadir was still holed up in Turkish Cyprus, and getting hands on him is one of the minor issues involved in Turkish EU membership and reuniting of the island.
BCCI (Bank of Conmen and Cocaine International) went bust over it, didn't it? I think that's where the fraud happened - anyone with money in BCCI lost it.
The rest you will have to get in the Slicker column in Private Eye (it comes up now and again)
2006-10-24 04:18:08 · answer #3 · answered by wild_eep 6 · 0⤊ 0⤋
If you do a search 'polly peck scandal' loads of sites come up, try any of those.
2006-10-24 04:26:13 · answer #4 · answered by Mogseye 3 · 0⤊ 0⤋