Director jailed for two years for defrauding creditors

Coventry Crown Court (Credit: Elliott Brown / Creative Commons 2.0)

The director of an electronic security systems manufacturer has been jailed for two years for defrauding creditors.

Peter Druzyc has also been banned from being a company director for eight years for his actions in the run-up to the failure of Warwickshire-based Secure Systems Limited.

He was sentenced 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.

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.”

Druzyc had been the sole director since 2005, 17 years after the company was founded, before the company entered administration in 2012.

Investigators from the Insolvency Service found Druzyc continued to conduct business and avoided paying his creditors on purpose.

He owed up to £436,000, as well as more than £45,000 to other creditors. Druzyc also paid out £43,500 across several payments from Secure Systems’ bank account to other accounts he controlled, with the last payment taking place a week before the company entering into administration in February 2012.

Close