A Spalding area teenager has been said to have amassed a fortune of almost £2 million from fraudulent activities, Youth Court magistrates in Boston have heard.
The 17-year-old male, who cannot be named for legal reasons but who lives in the Deeping St Nicholas
area, admitted the charges relating to money laundering and committing fraud by false representation
involving a total of around £6,900 in April last year, but the Crown Prosecution Service (CPS) said the
youth had accumulated around £1.9 million in Bitcoin which must be as a result of the fraudulent activity.
Andy Young, for the CPS, said the case must be sent to the Crown Court as, although the sentencing for
these charges might be suitable for the magistrates, only a Crown Court judge could issue a confiscation
order relating to the £2 million.
Although the solicitor for the youth argued that the magistrates had no power to send a juvenile to the
Crown Court in these circumstances, they disagreed and sent him for sentencing at Lincoln Crown Court
on a date to be arranged and granted him unconditional bail.
