A 20-year-old man has admitted a money laundering offence after £8,020 in cash was found hidden in a stereo.

Frederick James Buxton pleaded guilty to attempting to remove criminal property from the island and was committed to the Court of General Gaol Delivery for sentencing.

He will appear there on December 11.

Prosecuting advocate Rebecca Cubbon told the court that the package was posted at Ramsey Spar post office on June 23, intended for an address in Stoke-on-Trent.

Buxton was seen on CCTV footage posting the package.

It was intercepted at the sorting office and cash found inside a stereo system.

Buxton, of Grove Mount, Ramsey, was arrested on June 27 on suspicion of money laundering and a receipt for the parcel was found in his car.

When interviewed by police he handed in a prepared statement saying it was not his parcel and that he had been given it by someone he knew, who asked him to post it.

He said he believed it was a stereo and didn’t know there was money inside it.

Ms Cubbon said that the case would have been suitable for summary court but would need to go to the Court of General Gaol Delivery for a confiscation order to be made under the Proceeds of Crime Act.

Defence advocate David Clegg agreed that the case would have been suitable for summary court.

Deputy High Bailiff Chris Arrowsmith also agreed saying his sentencing powers would have been sufficient but for the need for the confiscation order.

Mr Arrowsmith ordered that the probation report consider all sentencing options, including custody.

Bail continues in the sum of £500 with conditions that Buxton contact probation, reside at his home address, and not leave the island without court consent.