A 14-YEAR-OLD boy who masterminded a massive money laundering scam splashed out $200,000 on shopping sprees, luxury holidays and pamper sessions.The NSW teen funded his celebrity lifestyle by selling fictitious products on eBay from 2007 – at one stage, earning more than $6000 a day.
The then 14-year-old went on a string of shopping sprees buying Versace and Prada clothes, flew groups of friends interstate for weekend-long parties in luxury apartments and lavished female friends with pamper sessions.
His life of luxury also included rented penthouses overlooking Sydney Harbour that cost $4300 a night and limousine trips to take him to the beach.The teens mother is suing Australias big four banks for their alleged role in the scam.
The woman, from the NSW south coast, has launched an action in the Supreme Court seeking damages and wants an apology from the Commonwealth Bank, ANZ, Westpac and NAB for unconscionable conduct after they allegedly handed her son dozens of bank accounts and debit cards without reasonable scrutiny, smh.com.au reports.When his mother stumbled on the scam, she says she repeatedly warned the banks he was a minor sourcing funds illegally.
It is alleged they ignored her or refused to discuss the matter for privacy reasons.She said she tried to seek help for her son, contacting teachers, principals, counsellors, doctors, travel centres, limousine companies, motels, hotels, the Australian Securities and Investments Commission, the banking ombudsman and MPs.