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5-year-old boy 'loses £50,000 on spread-betting site'

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A 5-year-old boy reportedly lost £50,000 on a spread-betting website after his mother's boyfriend left his computer on by mistake.

Deputy judge David Donaldson ruled that the 49-page terms and conditions from Spreadex were an "unfair contract", which meant that Colin Cochrane was not liable for the loss, Metro reports.

Spreadex Website

© Spreadex



Cochrane claimed that the loss-making trades in gold, silver and oil were made by his girlfriend's son, known in court as 'C', and that the transactions were made without his knowledge or authorisation.

He had been away visiting a friend for two days last May when the trades occurred.

"His girlfriend said that his computer had been used by C, and C told him that he had been playing games on it," Donaldson said.

"[The terms and conditions were] entirely inadequate to seek to make the customer liable for any potential trades he did not authorise."

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