Parrot Corporation

Parrot Corporation Limited was a British floppy diskette manufacturer formed in 1983, that operated from Llantarnam Industrial Park in Cwmbran, south Wales. The company was a start-up venture funded by the Welsh Development Agency (WDA).

The company suffered financial difficulties in 1985, a company investigation uncovered fraud, culminating in the dismissal of company director Frank E. Peters. A British political controversy ensued, with its focus upon the fraud and the WDA's investment practices. Peters was extradited to Britain to face a criminal trial, but was acquitted of all charges. The company became bankrupt due to financial and market pressures, and its assets were later sold for £1.25 million. Peters was subject to a United States court case in 2007; the charges included conspiracy, fraudulently inflating the value of security to a bank, bank fraud, mail fraud and wire fraud.