The Accounting Trick That Fooled Polly Peck's Investors
Asil Nadir has been sentenced for his role in Polly Peck's downfall. But the truth is investors should have bailed out long before his firm went bust. Tim Bennett explains. Asil went to jail for theft of company assets. However the amounts involved were small compared to the amount the company lost on unhedged forex exposures via his main overseas operating company.
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