 | |
| Company type | Private |
|---|---|
| Industry | Computer storage |
| Founded | 1983 |
| Defunct | 1989 |
| Fate | Dissolved |
| Headquarters | Cwmbran, Wales |
| Products | Floppy Diskettes |
Number of employees | 180 |
Parrot Corporation Limited was a British floppy diskette manufacturer formed in 1983, that operated from Llantarnam Industrial Park in Cwmbran, south Wales.[1] The company was a start-up venture funded by the Welsh Development Agency (WDA).[2]
The company suffered financial difficulties in 1985,[3] a company investigation uncovered fraud, culminating in the dismissal of company director Frank E. Peters.[2] A British political controversy ensued, with its focus upon the fraud and the WDA's investment practices.[3] Peters was extradited to Britain to face a criminal trial, but was acquitted of all charges.[2] The company became bankrupt due to financial and market pressures, and its assets were later sold for £1.25 million.[1] Peters was subject to a United States court case in 2007;[4] the charges included conspiracy, fraudulently inflating the value of security to a bank, bank fraud, mail fraud and wire fraud.[4]
- ^ a b Receivers report. Held at Companies House. Reference JPC/NDF/JJH/CPARROT
- ^ a b c "The Northern Trust Company, Plaintiff-counterdefendant-appellee, v. Frank E. Peters and Marta Chaikovska, defendants-counterplaintiffs-appellants - 69 F.3d 123 - Justia US Court of Appeals Cases and Opinions". Cases.justia.com. Retrieved 11 August 2010.
- ^ a b "Welsh Affairs (Hansard, 2 March 1987)". Parliamentary Debates (Hansard). 2 March 1987. Retrieved 11 August 2010.
- ^ a b "Frank E. Peters Conviction Press Release". usdoj.gov. 1 August 2007. Retrieved 11 August 2010.