A video game composer and sound designer who fraudulently applied for a Covid loan has been jailed.
Durham-based Peter Connelly, best known for his work on the Tomb Raider series, overstated his company’s turnover to obtain a second Bounce Back Loan of £37,500 in 2020 when businesses were only entitled to a single loan.
Connelly had previously secured a legitimate Bounce Back Loan worth £22,000 one month earlier.
As part of games studio Core Design, Connelly worked on the additional sound design for Tomb Raider III and later as a leading composer for Tomb Raider: The Last Revelation, Tomb Raider: Chronicles, and Tomb Raider: The Angel of Darkness.
The soundtrack for The Angel of Darkness, compared to earlier entries in the franchise, was more orchestral and recorded live by the London Symphony Orchestra at Abbey Road Studios in 2002.
In November 2018 his attempt to fund a Kickstarter project to remake his soundtracks failed after raising £68,955 of his £180,000 goal from 588 backers.
Now 52, he was jailed for 16 months at a hearing at Durham Crown Court last Thursday. He was also disqualified as a company director for six years.
Connelly’s first application for a Bounce Back Loan was in May 2020, when he secured £22,000. This application was within the rules of the scheme.
However, one month later in June 2020, Connelly applied to a different bank for a Bounce Back Loan of £37,500, claiming his company’s turnover for 2019 was £150,000.
Insolvency Service analysis revealed his turnover was just over £58,000, meaning he substantially inflated it on his second application.
Connelly also falsely declared that this was the only loan he had applied for.
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In interviews, Connelly told the Insolvency Service that he had been given the opportunity to re-imagine the music for the Tomb Raider soundtrack. This was a significant project which had the potential to be very lucrative, he added.
To complete the project, Connelly said he had taken out personal loans and sold his car. However, he said everything stalled at the start of the pandemic.
Peter Connelly Limited went into liquidation in August 2021. Neither loan had been repaid at this time.
Connelly himself entered into an Individual Voluntary Arrangement (IVA) in June 2022, a legally binding agreement where he has committed to making regular payments to an insolvency practitioner to repay his debts.
The IVA remains active.
“Peter Connelly blatantly disregarded the rules of the Bounce Back Loan Scheme, designed to support small and medium-sized businesses during the pandemic,” said David Snasdell, chief investigator at the Insolvency Service.
“Connelly not only secured two loans when businesses were only allowed one, but deliberately inflated his company’s turnover to receive more money than he was entitled to.
“The Insolvency Service is the lead agency for tackling Bounce Back Loan misconduct and we remain committed to ensuring fraudsters who stole from the public purse during a national emergency are brought to justice.”