Kenilworth boss jailed for fraud after £600,000 kept from creditors

The boss of a security systems firm from Kenilworth has been jailed after defrauding his creditors to the tune of £600,000.

Friday, 5th October 2018, 3:20 pm
Updated Saturday, 6th October 2018, 10:09 am
Peter Druzyc, 58, of Seekings Drive, has been jailed

Peter Druzyc appeared at Coventry Crown Court on Monday October 1 after being found guilty of two counts of fraudulent trading and one count of fraudulently removing property in anticipation of winding up.

He was sentenced to two years in prison.

Druzyc, 58, of Seekings Drive, was appointed as a director of Secure Systems Limited (SSL), which manufactured electronic security systems, in January 1999 before becoming the sole director of SSL in August 2005.

However, between 2009 and 2011 SSL entered into financial difficulties and was later placed into administration, before being liquidated in August 2013.

Investigators from the Insolvency Service looked into the conduct of Druzyc while he ran SSL.

They concluded he was fully aware the company was performing poorly and could not meet its liabilities, yet continued to conduct business and avoided paying his creditors on purpose.

Druzyc owed between £400,000 and £436,000, as well as more than £45,000 to other creditors.

He also paid out £43,500 across several payments from SSL’s bank account to other accounts he controlled, with the last payment taking place only seven days prior to the company entering into administration in February 2012.

Glenn Wicks, lead investigating officer for the Insolvency Service, said: “This man systematically ripped off two companies with no intention of paying either his creditors or his tax liabilities and took every opportunity to dishonestly maximise his income and personal finances prior to SSL’s liquidation.

“The courts have shown that they will always consider imprisonment for this type of offence and we are pleased with the final result.”

In addition to the sentence, Druzyc previously agreed to an eight year directorship disqualification and at court was ordered to pay costs.

Druzyc’s disqualification means that he is banned from directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company.