“He used company funds to fuel his luxury lifestyle while creditors were left in the dust.”
A rogue builder who raided his own company’s coffers to pay off a flashy Audi and sold machinery worth nearly $90,000 to gamble has been sentenced to 18 months in prison, suspended for two years.
Vasile Hrusca, 40, of Ferndown, Hornchurch, splurged more than $67,000 of company funds in 2019 to clear the balance on his high-performance Audi RS6 TFSI Quattro, a car he purchased the year before for nearly $75,000.
But the audacity didn’t end there. Hrusca offloaded seven mini-diggers, dumpers, and excavators—still tied to hire purchase agreements—with a combined value of over $89,000. The proceeds? Squandered on gambling.
“This behavior is outrageous,” says Insolvency Service chief
David Snasdell, Chief Investigator at the Insolvency Service, slammed Hrusca’s actions:
“He knowingly removed company property and sold assets that didn’t belong to him. His actions left creditors in the lurch while he enjoyed the spoils.”
Hrusca pleaded guilty to theft and fraudulently removing company property. In addition to the suspended prison term, he was disqualified from serving as a company director for four years. The court also ordered him to complete 150 hours of unpaid work and 15 days of rehabilitation.
Luxury Cars, Diggers, and Financial Collapse
Hrusca’s company, Vasile Hrusca Ltd, was incorporated in 2007 and specialized in construction installations. By 2018, the company entered three hire purchase agreements, acquiring the luxury Audi and several pieces of heavy machinery.
But financial troubles hit hard in 2019. Liquidators were appointed, yet months earlier, Hrusca had cleared his Audi’s balance using company funds, leaving machinery debts unpaid. During interviews, Hrusca admitted selling the equipment for cash to feed his gambling addiction.
Despite the sentencing, Snasdell vowed that the Insolvency Service would continue taking “robust action” against directors who exploit their companies for personal gain.
