Schoolboys 'ran £8m online fraud network'

Two British schoolboys have been arrested after police uncovered a huge online crime forum. Details of more than 65,000 bank accounts hacked from personal computers worldwide were allegedly sold on an internet site, leading to at least £8 million being stolen from the accounts, goods, wire cash and call sex phonelines.

The arrested pair, Nick Webber and Ryan Thomas, are thought to have met via a social networking site when they were 16. Police believe the hackers hatched a plot to break into computers with "malicious" programs.

The boys are thought to have made a fortune from the alleged scam. Mr Webber, now 18, is seen wearing designer clothes and posing next to a huge Hummer car on his Facebook page.

The forum is said to have offered American account details for three US dollars, EU ones for $5 and UK ones for $7. Mr Webber, from Southsea, in south of England, and Mr Thomas, now 17, of Seer Green, north of London, were held on suspicion of plotting to defraud and misusing computers. They are on bail.