Fraudster boss jailed after duping creditors - The Leamington Observer

Fraudster boss jailed after duping creditors

Leamington Editorial 11th Oct, 2018 Updated: 12th Oct, 2018   0

A SECURITY systems boss from Kenilworth has been jailed for defrauding creditors to the tune of £600,000.

Peter Druzyc was jailed for two years at Coventry Crown Court after he was found guilty of two counts of fraudulent trading and one count of fraudulently removing property in anticipation of winding up.

Peter Druzyc had for the past 13 years been the sole director of Secure Systems Limited (SSL) which designed and manufactured electronic security systems.

But between 2009 and 2011 SSL entered into financial difficulties and as a result was placed into administration, before being liquidated in August 2013.

Investigators from the Insolvency Service looked into the conduct of 58-year-old Druzyc while boss of SFF and 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.

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

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 he is banned from directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company.

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.”


Receive a weekly update to your inbox by signing up to our weekly newsletter.

Online Editions

Catch up on your local news by reading our e-editions on the Leamington Observer.


Advertise with the Leamington Observer to reach your audience

Buy Photos

Buy photos online from the Leamington Observer newspaper.