A teenager who ran a fraud website which defrauded banks and business out of millions of pounds has been jailed for five years.

19 year old Nick Webber masterminded Ghostmarket.net, a site where up to 8000 users traded credit card details and swapped tips on how to hack into bank accounts and use stolen credit cards on Ebay.

Prosecutor Hugh Davies said: “It is difficult to conceive a site that more openly promotes fraud.”

Webber was busted in October 2009 after trying to use a counterfeit credit card in a hotel.

Sensing the cops were onto him the former public schoolboy boasted: “I’m probably the most wanted cyber criminal right now so I gotta keep underground.”

Webber was caught with details of 100,000 credit cards on his laptop and it is believed that he and his gang may have defrauded banks, business and individuals of anywhere between £12 – £20 million.

Webber from Southsea was sentenced along with fellow Ghostmarket “colleagues” Ryan Thomas, 18, of Seer Green in Buckinghamshire, Gary Kelly, 21, of Clifton, Manchester, and Shakira Ricardo, 21, from Swansea.