An Essex builder misused company funds for a luxury car and stole machinery, leading to a suspended sentence and disqualification as a director.
In 2019, he took out over £67,000 from his struggling company. This money went straight to paying off his Audi. He had bought it for just under £75,000 the year before.
Hrusca, 40, from Hornchurch, also sold off seven diggers and other machinery. He did this while still owing money on them. Turns out, he was using the cash to fund his gambling habit.
When he faced the music at Snaresbrook Crown Court, he got an 18-month prison sentence, but it was suspended for two years. He also got banned from being a company director for four years.
On top of that, he has to do 150 hours of unpaid work and 15 days of rehab. Hrusca was the only active director at his company, which was supposed to be in construction.
His company had entered into three hire purchase agreements in 2018. He bought the Audi for nearly £75,000, putting down a £7,500 deposit. The rest was financed by the bank.
Just a couple of months later, he signed agreements for seven pieces of machinery worth over £89,000. But by 2019, his company was in deep financial trouble, and liquidators were called in.
Interestingly, three months before the company went under, Hrusca asked for a settlement on his Audi’s hire purchase. His company paid off the balance, but he never settled the other agreements.
In interviews, he admitted to selling the machinery for cash and using it for gambling. He also didn’t hand over important records to the liquidator.
David Snasdell from the Insolvency Service said Hrusca’s actions were unacceptable for a company director. He took company property before liquidation to pay off his Audi.
Hrusca’s company, Vasile Hrusca Ltd, was set up in 2007 and claimed to be in construction installation. It’s a wild story of poor choices and bad luck.
