Boy, 17 blows £12,000 on father's card

A teenager who stole his father's credit card and blew £12,000 on designer clothes and jewellery said today: "My parents think it is absolutely awful."

However, a defiant Tom Smith added: "If Dad had got me these things in the first place, I would not have had to steal his card."

Smith, 17, took the card from his father's wallet while he was out jogging and flew from Stansted to Rome.

There he booked into a three-star hotel costing £95 a night before forging his father's signature to buy trainers and silk trousers worth £800 from Versace. He also spent £1,800 on trainers, jeans, a T-shirt and underwear at Dolce & Gabbana.

Smith later upgraded to the five-star Hassler Roma hotel where rooms are £340 a night because his guidebook called it "a favourite with A-list Hollywood stars".

Even when he flew home the conspicuous consumption did not stop. At Gatwick, Smith ordered a limousine and took three friends to Brighton where they booked two £250-a-night rooms at the four-star Thistle Hotel. The next day he bought an £860 Sony video camera and the group took a champagne ride back to London in the limousine.

Smith returned to his home overlooking Victoria Park in Hackney to face his father and mother - but was, incredibly, forgiven his spending spree. Mastercard told his father John, 49, he must pay the bill or press charges against his son if he wanted insurance to cover the cost.

Smith will now be questioned by police. Outside the family home this morning, however, he appeared anything but contrite. "I just needed some new clothes," he said.

"My parents are supporting me and they have got me a lawyer. But I am not sorry, I have got lots of nice new things."

Smith, speaking as he took the family dog Kola for a walk in the park, said that although his father called Mastercard to stop his spree, he was able to get more credit by phoning the card company from the Versace store in Rome and pretending to be his father.

Smith, who is taking a year out before doing his A-levels, added: "My parents are pretty annoyed as you can imagine. My lawyer thinks I may get community service, but I do not care about getting a criminal record. I will just change my name or something."

Smith's father, who earns £100,000 a year as an investment banker, reportedly called his son a "little shit".

Asked if he would like to apologise to him, his son simply said: "I got a bit carried away."