A fence pleaded guilty in a dramatic mid-trial U-turn to handling tractors worth half a million pounds that were stolen by an Oxfordshire-based gang.

Hristo Chenchev, 46, was described as having been ‘first in the queue’ of potential buyers for Kidlington-headquartered James ‘Jimmy’ Sheen and his gang.

The gang, who were collectively locked up for almost quarter of a century last year, moved on to stealing high-value tractors and plant machinery in the early summer of 2020 after enjoying only limited success from blowing up cash machines with acetylene gas.

Sheen was the mastermind behind the tractor thefts in May 2020. He also oversaw a ramraid on the National Horseracing Museum in Newmarket in the same month.

The Scottish Farmer: Jimmy Sheen Jimmy Sheen

London-based Chenchev initially denied being involved in a conspiracy to buy the stolen agricultural machinery and spirit it to the continent.

But after listening to the prosecutor outline the case against him on Monday, the Bulgarian returned to Oxford Crown Court yesterday and pleaded guilty to conspiracy to convert criminal property.

His plea came after the original jury was discharged. Trial judge Recorder John Hardy KC adjourned sentencing until Wednesday (March 22).

Yesterday, prosecutor Oliver Wellings said that although the machinery handled by Chenchev was worth an estimated half a million pounds, it was ‘likely’ he was buying the stolen tractors for a fraction of the price.

Bailing the defendant to return to the crown court for sentence today, Recorder Hardy told him: “You’ve pleaded guilty albeit late in the day to an offence which has been uncovered by dint of a highly competent operation by the police.

“I make it clear I commend the officer in the case for the work that has been put in on this particular matter.

“You’ve pleaded guilty to an offence where the evidence against you was, quite frankly, in my view overwhelming.”

The Scottish Farmer: Hristo Chenchev outside Oxford Crown CourtHristo Chenchev outside Oxford Crown Court (Image: Oxford Mail)

On Monday, jurors heard that Chenchev was arrested near the Manor Park caravan park headquarters of Jimmy Sheen’s gang in May 2020.

Driving a yellow van, he was said to have been at the Kidlington meeting point together with lorries to spirit away the stolen tractors, £8,000 cash in his pocket and a mobile phone containing messages between him and the gang that stole the tractors.

In a lane and in a woodland glade not far from the traveller site were three New Holland tractors and an Axion tractor stolen in different raids.

Police had been called by a soil expert who was working in a neighbouring field. He had seen two blue New Holland tractors parked up in a secluded lane together with the two lorries and thought it was suspicious.

Analysis of Chenchev’s phones and devices seized from various members of Sheen’s gang showed communications between the fence and the thieves after three high-value raids in May 2020.

Mr Wellings said: "If the gang wasn't quite stealing to order for Mr Chenchev they had him at the head of the queue [of] potential buyers and were alerting him to stolen goods within moments of the theft taking place."

The Scottish Farmer: Cash seized from Hristo Chenchev's home Picture: Thames Valley PoliceCash seized from Hristo Chenchev's home Picture: Thames Valley Police (Image: Thames Valley Police)

When police later searched his home, they found almost £50,000 in cash. The officers discovered document stamps in the names of both legitimate and bogus companies, which could be used to stamp paperwork linked to transporting vehicles.