Crime

Welsh grandfather conned out of £17,000 in cryptocurrency scam

Published

10 months ago

August 14, 2025

A WELSH grandfather who lives in the Dyfed-Powys Police area has spoken of his devastation after losing more than £17,000 to a sophisticated cryptocurrency scam which tricked him into believing his savings had grown to three quarters of a million dollars.

Paul Butterworth, 72, was lured into the scheme after responding to a Facebook advert for Diamond Ridge Asset Management – also trading as Diamond Ridge Financial Academy.

The advert led him to join a WhatsApp group where supposed investors praised the company’s daily market reports and trading advice. The group, complete with what appeared to be expert analysis from a “professor”, convinced Mr Butterworth the operation was legitimate.

“They had a website and accurate reports about the stock market,” he said. “I assumed their crypto reports were accurate too.”

Between January and April this year, Mr Butterworth’s apparent investment of £17,106 seemed to rocket to more than $750,000 on the fake platform. But when he tried to withdraw funds, his account was frozen until he repaid – from his own pocket – a $25,000 “loan” the scammers claimed to have provided.

The trades were bogus, and the money was gone.

Partial recovery

Mr Butterworth turned to the National Fraud Helpline, which has so far managed to recover £5,500 from his bank, Nationwide. The firm is now pursuing the rest of the money through the Financial Ombudsman Service.

Charlie Quail, a lawyer at the helpline, said: “This was a very sophisticated scam that allowed victims to log into a convincing but fake investment platform. Thousands of people have fallen victim, believing they were watching their investments grow.”

Hooked by small wins

The pensioner, a retired driving instructor, first dabbled in stock market trading before being persuaded to “beta test” a new trading system via a platform called “Winning.” The scammers even credited his account with $2,000 to start.

After following daily tips in the WhatsApp group, his balance appeared to grow, and he was allowed to withdraw some profit – a tactic he says hooked him into investing his own money.

“They made it seem genuine,” he said. “I wish I’d walked away then. Instead, I got greedy.”

The fraudsters later encouraged him to join a “partner programme” if he could bring his account to $25,000, promising to match the amount with a loan. He signed a contract that appeared official.

When his balance showed $753,855, he says he had “mixed emotions”.

“I thought, ‘wow, I’m going on holiday,’ but also thought it was too good to be true.”

His fears were confirmed when the $25,000 “loan” was called in – and the platform refused to deduct it from his account.

Warning to others

“I rely on the state pension, a little stock market trading and my meagre savings,” Mr Butterworth said. “This modern technology is like a goldmine to scammers. I don’t want anyone else to fall into the same trap.”

Crime

Spittal man to stand trial accused of ABH

Published

2 days ago

June 20, 2026

Court Reporter

A SPITTAL man is to stand trial accused of assaulting a man and causing actual bodily harm.

Robert Hedley, 41, of Wesley Way, Spittal, Haverfordwest, is charged with assaulting Liam Morley-Trivett at St Clears on August 30, 2025.

The case was before Haverfordwest Magistrates’ Court on Thursday (Jun 18).

Hedley was granted unconditional bail and is due to stand trial at the same court on Monday, June 29.

The trial is listed for 10:00am and has been given a time estimate of twenty minutes.

Crime

Milford Haven woman spared jail despite string of shop thefts

Published

2 days ago

June 20, 2026

Court Reporter

Repeat offender stole from Tesco, Home Bargains, Food Warehouse and petrol stations in wave of offences

A MILFORD HAVEN woman who admitted a series of shop thefts committed over a matter of weeks has been handed a suspended prison sentence by magistrates.

Marion Picton, aged 46, of Hawthorn Path, Milford Haven, appeared before Haverfordwest Magistrates’ Court on Wednesday (Jun 18) and pleaded guilty to eight theft offences and a drugs-related offence.

The court heard that Picton carried out a string of thefts at stores across Milford Haven between April and June this year.

Among the offences, Picton admitted stealing meat from Food Warehouse on Apr 23, food worth £60 from Victoria Filling Station on May 29, groceries from Home Bargains on Jun 7 and Jun 8, food from Victoria Filling Station on Jun 7 and Jun 9, groceries and non-food items worth £51.09 from Tesco on Jun 16, and food worth £32.50 from Food Warehouse on the same day.

She also admitted failing to attend an initial drugs assessment after testing positive for Class A drugs, including cocaine and opiates.

Magistrates were told the offences represented persistent repeat offending and had been committed while Picton was already subject to a court order.

The bench imposed an eight-week prison sentence, suspended for 18 months.

As part of the order, Picton must complete up to 15 rehabilitation activity days under the supervision of the Probation Service.

The court ordered her to pay compensation to several of the businesses affected, including Tesco, Home Bargains, Food Warehouse and Victoria Filling Station.

In sentencing, magistrates said the offences were serious enough to justify immediate custody but suspended the sentence because there was a realistic prospect of rehabilitation and Picton appeared motivated to address her addiction issues.

Picton was warned that any further offending during the 18-month suspension period could see the prison sentence activated.