Polly Peck continued its existence as a business empire and a company at the center of financial scandal in the UK until its dissolution in 2019. The Polly Peck case, which began with the arrest of Asil Nadir on 17 December 1990 and ended with his imprisonment on 22 August 2012, is a significant event in corporate history that demonstrates the complexity of corporate governance, legal frameworks and economic impacts. This study examines the rise and fall of Polly Peck International (PPI), a company that became synonymous with the corporate scandal that broke out in 1990. The scandal was hidden under the stock market success, revealed the effects of the executive's lack of ethics within a weak corporate structure and became a valuable lesson in corporate governance for the days to come. Financial scandals such as the Polly Peck scandal are not just about the bankruptcy of a company and the loss of capital of stakeholders such as creditors and investors. Its effects were reflected in the general economic environment as well as the society and caused public authorities to make new regulations.