An office administrator has admitted to stealing nearly £200,000 in cryptocurrency from his employer, devastating a retirement plan years in the making.
Ben Noden, 37, appeared at Redditch Justice Centre this week, where he pleaded guilty to theft by employee and committing fraud by false representation. The shocking theft left his boss, Peter Round, unable to retire after Noden siphoned off funds from a cryptocurrency portfolio meant to secure his future.
Her Honour Judge Seanin Gilmore granted Noden conditional bail ahead of his sentencing, scheduled for February 13 at Worcester Crown Court.
Retirement Dreams Shattered
Peter Round, 68, had spent years working tirelessly as a roofer to build a cryptocurrency portfolio intended to fund his retirement. Hoping to maximize his investments, he entrusted Noden, a former roofer with a strong grasp of computers, to manage the online trades.
However, just over a year later, the once-promising portfolio was gone. Noden had systematically transferred sums of up to £12,000 a day while continuing to collect his £400 weekly wage.
“I was 66 when he did this to me,” Mr. Round said. “I worked seven days a week in roofing for this money. I put everything into this. He did this for over 13 months.”
Mr. Round explained how Noden’s betrayal has left him unable to retire, forcing him to return to roofing despite his age. “He basically sentenced me to hard labour for the rest of my life. I had to get back to work. You try and get up at 67 years of age when you put everything in, and he takes £400 off your hand,” he added.
Gambling Away the Future
Noden, from Shipston-on-Stour, Warwickshire, admitted to stealing a total of £198,387. According to Mr. Round, the stolen funds were gambled away on a cryptocurrency website.
“If he hadn’t stolen it, it should have been roughly £496,000,” Mr. Round explained. “He’s wrecked it. I employed him initially to come into roofing for me, but as I got into crypto, I left him in the office to put money into crypto as he was computer savvy. He stole every bit of it from me.”
Mr. Round recounted how Noden’s actions stretched over 13 months, with forged signatures used to liquidate stocks. Despite the betrayal, Mr. Round remained determined to seek justice for the crime that destroyed his financial stability.
“He’s dragged this out since July; for three years this has happened. Now I’m 68, and I can’t retire. A real rat,” he said.
Sentencing Awaited
Family and friends of Mr. Round were present in the public gallery as Noden pleaded guilty to all charges. The case will conclude next month when Noden faces sentencing, but for Mr. Round, the damage is already done.
“I had planned to retire, but now I’ll have to keep working. He’s wrecked my future,” Mr. Round said.