According to information unveiled publicly by the British government, Peter Connelly was sentenced on July 17, 2025 to a sentence of sixteen months in prison following the fraudulent obtaining of two “bounce back loans”, these loans guaranteed by the British state to support companies during the COVVI-19 crisis.
Concretely, Connelly deliberately overvalued the turnover of her music production company to obtain a first loan of 37,500 pounds Sterling (the maximum authorized by British law) and then requested a second loan from another establishment, illegally. However, these aids were strictly limited to one per company. Faced with investigators, the artist explained that he had acted in order to finance an orchestral remastering project of the music of Tomb Raider. He hoped, he said, that it would be a financial success and that it would have allowed him to reimburse the sums due and relaunch his economic activity. But the project never led, his company was liquidated in August 2021, and none of the loans were reimbursed. In June 2022, Connelly had to enter into a procedure called “individual voluntary arrangement” literally “individual voluntary agreement”, a legal system in the United Kingdom allowing a indebted person to conclude an agreement with his creditors to reimburse a part or all of his debts over a determined period, generally in order to avoid personal bankruptcy.
David Snasdell, chief investigator within the uninlaven service (Insolvency service, British public body attached to the Ministry of Business and Commerce (Department for Business and Trade)), said: “Peter Connelly obviously ignored the rules of the Bounce Back Loan system, which had been set up to support small and medium -sized enterprises during the pandemic. Not only has Connelly contracted two loans while companies were only authorized only to obtain one, but he also deliberately inflated the turnover of his company in order to receive a sum greater than that to which he was entitled. Insolvency Service is the main organization responsible for fighting against bounce back loans, and we remain determined to ensure the fraudsters who have stolen public money in the full national emergency. »»
The court considered that the former composer had exploited the gaps of the emergency system for personal reasons, without worrying about the long -term consequences, and estimated that his act was a premeditated fraud, a manifest attempt to abuse a system put in place to avoid bankruptcy in series, not to speculate on a potentially profitable work. In addition to 16 months in prison, Connelly is a ban on the ban on led a business for six years.
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