A DRUG dealer from Newcastle Emlyn who made more than £380,000 by supplying cocaine has been told to repay less than £3,000.

Fraser Cuberhives, 36, of Sycamore Street, was convicted of concealing criminal property and supplying cocaine following a trial on July 29 last year.

A Proceeds of Crime Act (POCA) hearing previously heard Cuberhives had cash in two bitcoin accounts, or ‘wallets’.

The court heard that the first wallet contained bitcoin to the value of just over £67,000 while the other had bitcoin in it to the value of just over £258,000.

One of the accounts was held in the Isle of Man and the court was told previously that the Crown would need international authority to have access to it.

Appearing again at Swansea Crown Court on Friday, June 16, it was determined that Cuberhives had benefitted to the sum of £380,298 from his offending.

It was agreed that Cuberhives had £2,749 that could be confiscated.

Judge Geraint Walters ordered that Cuberhives repaid that sum.

Cuberhives’ co-defendant, Oliver Skeate, of Nun Street in St Davids, pleaded guilty to possessing Class A drugs and acquiring criminal property in 2021, but was acquitted of supplying cocaine and possessing cocaine with intent to supply following a trial on July 29 last year.

A previous POCA hearing heard Skeate, 33, had benefitted to the sum of £10,060 from his criminal activity.

The prosecution asked Skeate’s case to be adjourned as it was believed the prosecution and defence were close to agreeing a benefit figure and confiscation amount.

Skeate will return to court on July 5.