Wheeler-dealing teen who boasted of turning £2k into £21m in a year on the stock market is charged with £100K fraud
A high-flying teen who was investigated by police after boasting he had turned £2k into £21m in just ONE year has been charged with multiple counts of FRAUD.
Officers launched a probe into the finances of Sam Cook, 18, after he amassed his huge fortune trading across currency, stock and commodities markets.
The multi-millionaire teenager drives a £170,000 supercar, wears a different £120,000 watch every day of the week and has enjoyed a string of luxury holidays.
But Cook has now been served with a summons to appear in court next month to answer six allegations of fraud totalling £110,000.
The offences are alleged to have taken place between June 19, 2014 and January 31 2015.
No further details of the charges have been released, but it is understood detectives from the police’s financial investigation unit carried out inquires after Sam appeared in local media in January boasting about his extraordinary earnings.
Sam spoke about his amazing run of fortune that saw him make #6m in one day last summer.
He posed for pictures alongside his bright red £170,000 Ferrari F430 Scuderia to promote his wealth.
But ironically, it has now emerged that he never even had a licence to drive it.
He is also now facing charged of driving a vehicle without L plates whilst holding only a provisional licence.
Since making his millions, he has been living the high life that has included holidays in Barbados and he said he had no intention of stopping.
He said: “I want to have £2billion by the time I am 50.”
Sam said he began dabbling with the stock market at the age of 15 but the initial casual interest later developed into an obsession.
He moved to Plymouth, Devon, with his parents Peter and Deanna, from his native Yorkshire about seven years ago.
Sam revealed he started with a £2,000 loan from his father, Peter, in February 2014 and made his fortune on the markets covering stock, currency and commodities (resources such as minerals and agricultural products such as sugar and coffee).
He said: “I did a lot of research and studied how they were connected. I knew a lot more about the world.
“I tried the (play) site and showed my dad how I was doing. He saw I was working at a ‘profit’.
“He let me borrow £2,000 in February and try that. My first big hit was ?28,000.
“Every time I made money, I put it back in and made more.
“It hasn’t changed me. I am still the same person I was before I had the money.”
Sam, who rents a flat in Plymouth’s posh Royal William Yard, is still with long-term girlfriend Evelyn Simpson, 25.
He said he was hoping to set up his own brokerage firm in Plymouth and wanted to take on 30 staff.
He is due to appear at Plymouth Magistrates’ Court on July 1.