Peter Connelly, the acclaimed composer and sound designer known for his work on the Tomb Raider Remaster series and Tomb Raider: Chronicles, has been sentenced to 16 months in prison. His conviction stems from fraudulently applying for government financial aid intended to mitigate the economic impact of the COVID-19 pandemic.
In June 2020, Connelly applied for a second Bounce Back Loan (BBL) totaling £37,500 (approximately $55,000), significantly exaggerating his company`s annual turnover. This action directly violated the loan program`s rules, which permitted only one such loan per business. He had already secured a legitimate loan of £22,000 the previous month. According to the UK Insolvency Service, Connelly falsely claimed his company`s 2019 turnover was £150,000, when in reality it was just over £58,000. He also failed to disclose his prior BBL application. These deceptive acts initiated a criminal investigation by the Insolvency Service.
At a hearing held this week, Connelly was not only sentenced to imprisonment but also disqualified from acting as a company director for six years. The Insolvency Service underscored the gravity of his fraud, emphasizing that these loans were established to assist struggling small businesses during the COVID-19 pandemic, not to be exploited for personal enrichment. Chief Investigator David Snasdell condemned Connelly`s “blatant disregard” for the regulations.
In his defense, Connelly asserted that he had taken financial risks while working on a high-profile project involving the reimagining of the Tomb Raider soundtrack. He claimed to have sold his car and incurred personal loans in anticipation of the project`s success, which he stated was derailed by the pandemic. However, the court ruled that his financial mismanagement did not justify committing fraud.
Peter Connelly Limited, his company, entered liquidation in August 2021, with neither of the two loans having been repaid. In June 2022, Connelly entered into an Individual Voluntary Arrangement (IVA), agreeing to repay his debts through structured, regular payments facilitated by an insolvency agency.