An office administrator who stole almost £200,000 in cryptocurrency from his boss and his wife to fund his gambling addiction has been spared jail.

Ben Noden, 38, was working as a roofer when he was asked by his employer Peter Round, 68, to help manage his cryptocurrency trades online in November 2020.

But a court heard he transferred thousands of pounds from his bank account and used the crypto earnings to fund his gambling addiction. 

Around a year later Mr Round and his wife Monica Davies discovered the valuable portfolio they had built up over several years had disappeared and called in the police.

Detectives found Noden had swindled the pair out of £198,387 worth of savings between January 2021 until January 2022.

During that time he had been gifted a car by Mr Round as well as other "expensive gifts" after being "welcomed into the family" by the couple. 

Noden, from Shipston-upon-Stour, previously pleaded guilty to theft and fraud at Redditch Justice Centre. 

Yesterday (May 7) he avoided jail after being handed a two year prison sentence, suspended for two years and ordered to undertake a 25 day rehabilitation requirement at Worcester Crown Court.

Sentencing, Recorder James Hay said: “No sentence I pass today is ever going to return the significant amount of money that you stole from Peter Round and Monica Davies during that time. 

"Around November 2020 you had been employed by Mr Round to control the computer side of his business. He placed a great degree of trust in you. 

“You were known to Mr Round beforehand, paid a salary for what you did, given charge of bank accounts and you were instructed to manage Mr Round’s investments in crypto and block chain. 

"He had hoped you were able to set up his retirement.

“Through the actions you took over that period of time, you did not set up Mr Rounds retirement as was hoped. You did not assist Mrs Davies in either of the ways that was set out.

“The trust that was placed in you was abused by you.

“You’ve heard of the significant impact that your actions have had on those individuals over that lengthy period of time has had on both Mr Round and Mrs Davies.

“I can see throughout the pre-sentence report and the character references that speak on your behalf your significant remorse. 

"It seems that this isn’t something that you have shied away from in your employment, you have spoken to people about your remorse. 

“You have done everything it seems to show that you are someone who is capable of leading a law-abiding life without stealing from those who place great deals of trust in you.

“Having given the matter a great deal of thought, in my judgement appropriate punishment can be achieved without immediate custody." 

The court heard Noden was initially employed as a roofer but swapped to managing Mr Round’s cryptocurrency assets after showcasing his computer skills.

But after a chance visit to the bank following a failed transaction, Mr Round and his wife uncovered the scale of the deceit, which totalled £198,387.

Prosecutor Amiee Parkes said: “The defendant was technically minded and because of his ability Mr Round decided to employ him to manage his investments into cryptocurrency and blockchain. 

“The defendant therefore began managing all of the transactions on Mr Rounds behalf and had access to his digital wallet which contained the currency. 

“Mr Round did all the studying into which cryptocurrency he wanted to invest and made a list of which he wanted the defendant to invest. In order to do this he was provided with all of Mr Round’s passwords. 

“The defendant also had access to Mr Round’s bank account, both personal and business, in order to make the transfers. 

“Mr Round is not the only person who asked the defendant to invest money for him. Mr Round had also asked the defendant to invest on behalf of Monica Davies. In order to do this, he was given access to her account. 

“In January of 2022 Mr Round asked the defendant to make a payment from Mrs Davies’ account to pay a plumber. 

"Later that day Mr Round was contacted by the plumber to say that he had no received that money. 

“On January 18, 2022 Miss Davies attended Lloyd’s TSB with the defendant and Mr Round to see why the payment hadn’t been made. 

"She was told it was because there wasn’t enough money in the account.”

In a victim impact statement read out to the court by Miss Parkes, Mr Round said: “Every day since the actions of Mr Noden came to light to this very day, I have felt immensely angry towards him for what he did to myself and Miss Davies.

“Not only has he betrayed the trust that we both put in him, he took advantage of the kindness shown to him and proceeded to steal and gamble away both mine and Mrs Davies retirement savings and most importantly our future. 

“What made this worse is that it was not a one-off. He spent months and months stealing from me while collecting a wage for doing so. 

“While stealing our money and our future, Mr Node took away something far more valuable, our time. 

“No matter the outcome now, this will never be replaced. 

“During the time I had worked with Mr Noden I had planned a route to secure both mine and Mrs Davies futures. This involved a lot of hard, physical work needed for the investment. 

“Having been a roofer for 50 years, I have severe pain in both my knees and back. I had a clear plan in mind to complete the investments, then cut back on work and retire comfortably. 

“Since discovering his actions I have since had to carry on working full-time for nearly three years longer than I had planned. 

"Not to secure a benefit for the future, but to ensure I don’t lose what I spent my entire life working for.

“Some days when I return from work I struggle to walk a few steps as the damage to my knees is significantly worsened.”

Amanda O’Mara, defending, said: “From the pre-sentence report you can see that he moved away from the area, got a new job and was living in those premises where he’s working as a chef. 

"He still tried to contribute to society by being a law-abiding citizen and has kept out of further trouble since.”

“He has an addictive personality which has led to his offending, as opposed to someone who is gratuitously out of greed stealing from someone to live a luxury lifestyle.”

Speaking after the case, Mr Round said: "I find it absolutely disgusting he escaped any sort of prison sentence. 

"It just sends the message you can walk into people's lives, then ruin their lives, and get away with it scot free. 

"It makes me ashamed to be a British citizen if I'm honest, where is the justice in this? I am so angry and still trying to process it.

"He has caused hurt to so many people in the process and has escaped pretty much without any form of punishment.

"He was remanded in custody before senetencing but then a different judge all of a sudden feels sorry for him.

"He has ruined out futures yet is allowed to go home to his mom and carry on with his life."