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With a capitalization of some £2 billion Polly Peck was one of the UK''s largest corporate failures. A failure which may have had fraud at its root. Polly Peck had been created and developed over the decade of the 80s by one man, Asil Nadir. Unfortunately, dysfunctionalism developed as the company grew. Appropriate information, communication and control systems failed to materialise as Nadir sought to retain entrepreneurial decision making power. His strategy was a simple one of growth. However, the rate of acquisition became a necessary feature required to camouflage the inherent financial weaknesses in the organisation. The straw which broke Polly Peck''s back was the raid by the Serious Fraud Office. This signalled the collapse of Polly Peck''s share price and cessation in its share trading. The administrators were called in and Nadir faced criminal charges of misappropriation of Polly Peck''s funds in excess of #370 millions. His response to this was to jump his #3 million bail and abscond to Northern Cyprus. A Background Note (395-030-5) accompanies the case.