Will you be employed by these people to write the site? If contract law works the same way over there as it does in the UK, the content of the site, including all the PHP code, is copyrighted to the person who paid for it, not the person who created it.
That is to say, the script I'm writing now is copyrighted to my boss' company, not me.
Therefore, if you were to delete all the code the people you're in business with would have the right to sue you for anything they paid PLUS anything the site might have earned if you'd not deleted it.
Read your contract VERY carefully before taking any radical action.
(Also, building backdoors into software is covered by the Patriot Act over there isn't it? I think it may get you thrown in prison. Not sure. I'm better at UK law than US)