left Camera company Polaroid has filed for Chapter 11 bankruptcy protection in the United States. The firm, famed for the introduction of instant photography , says alleged fraud by the founder of their parent group is to blame. Owned since 2005 by Petters Group Worldwide , Polaroid says that the group's founder Tom Petters is "under investigation for alleged acts of fraud that have compromised the financial condition of Polaroid." Authorities believe Petter, currently in police custody, was running fraud worth £ 3 billion, something he denies.
left Camera company has filed for bankruptcy protection in the United States. The firm, famed for the introduction of , says alleged fraud by the founder of their parent group is to blame. Owned since 2005 by , Polaroid says that the group's founder is "under investigation for alleged acts of fraud that have compromised the financial condition of Polaroid." Authorities believe Petter, currently in police custody, was running fraud worth 3 billion, something he denies.
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Polaroid
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Chapter 11
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instant photography
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Petters Group Worldwide
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Tom Petters
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£