Clayton-le-Moors man implicated in £28m bitcoin scam
A man from Clayton-le-Moors played a significant role in a £28 million bitcoin fraud case. The fraud scheme, which began in 2017 when James Parker exploited a loophole in an Australian cryptocurrency trading platform, resulted in the theft of more than £20 million in credits over a three-month period. Working alongside his accomplices, Parker enlisted the help of his corrupt financial advisor, Stephen Boys, from Winster Court, Clayton-le-Moors, to launder the stolen funds. This nefarious operation yielded such astronomical profits that £5,000 gift cards were distributed to people on the streets, and cars were gifted to individuals Parker met at the pub.
During the trial, Boys, aptly nicknamed “Rodney” reminiscent of the character from “Only Fools and Horses,” recounted how he delivered £1 million in cash in a suitcase to purchase a villa from Russians he encountered at the back office of an estate agency. Additionally, he disclosed paying £60,000 to bribe corrupt officials to facilitate continued money laundering activities.
Extensive investigations led to the recovery of 445 Bitcoins, equivalent to £22 million at the time, along with assets such as luxury watches, properties, vehicles, high-end goods, including a £600 wine cooler, and more than £1 million held in bank accounts. These seized assets are slated to be returned to the victim of the fraud. Law enforcement authorities collaborated closely with international agencies, including those in Australia and Finland, along with the Crown Prosecution Service, to ensure the apprehension and sentencing of the culprits.
Sadly, Parker passed away in 2021 before facing legal consequences, but his co-conspirators were convicted in January 2023. Boys, aged 61, received a six-year prison sentence for his involvement in money laundering activities. Jordan Robinson, 26, from Poulton Road, Fleetwood, was sentenced to four-and-a-half years for conspiracy to commit fraud, two years for handling criminal proceeds, and two years for converting criminal proceeds. Kelly Caton, 47, residing on Livingstone Road, Blackpool, was also incarcerated for four-and-a-half years for conspiracy to commit fraud, along with two years each for the acquisition and conversion of criminal proceeds.
James Austin-Beddoes, 30, residing at Brighton Avenue, Lytham, received a suspended sentence for conspiracy to commit fraud and handling criminal proceeds. Subsequent to a Proceeds of Crime Act hearing at Preston Crown Court, it was revealed that substantial assets were seized from the convicted individuals. The recovered funds, totaling over £4 million from Robinson, nearly £8 million from Caton, in excess of £11.5 million from Boys, around £8 million from Parker, and £1,100 from Austin-Beddoes, fully compensating the victim for their £24.5 million loss. The surplus exceeding the original fraud amount by roughly £3 million will be divided among the Home Office, the judiciary, and Lancashire Police.
Detective Sergeant Dave Wainwright, head of the police’s economic crime unit, expressed satisfaction at the successful culmination of this complex investigation, ensuring complete compensation for the victim and thwarting the criminals’ profit gains. He emphasized that the defendants have three months to comply with their court orders, failing which they face an additional 14 years in prison. The collaborative efforts of various law enforcement and legal entities were instrumental in delivering this commendable outcome. Andrew Kerrigan of the Crown Prosecution Service highlighted the global impact of cyber-enabled crimes and the necessity for coordinated efforts to combat illicit financial activities.
