Instagram’s ‘richest teen’, 18, jailed after selling a STOLEN iPhone

A California teen who gained internet fame as ‘Instagram’s richest kid’ is now living the down and out life in jail for committing the lowly act of selling a stolen iPhone online.

While 18-year-old Param Sharma’s Instagram antics often included him showing off his multiple iPhones, he claims it was someone else’s that he listed on Craigslist as a favour which won him a 90-day sentence August 18.

Pocket change: Sharma claimed he was selling the stolen iPhone for a friend

As of Thursday, the self-proclaimed rich kid was still behind bars at the Santa Rita jail, apparently unable to cover his $30,000 bond.

Police said the phone was stolen. Sharma charged with a misdemeanour crime of failure to make a reasonable effort to find the owner of the phone.

Sharma and his attorney Andrew Shalaby claim Sharma was simply selling the phone for a friend who was unable to do it himself.

Shalaby also said his client is the first person ever convicted of the obscure charge in the state of California and that the bond set does not match the low-level crime.

Mo’ money: Sharma spent about two weeks of his 90 days sentence in a psych ward because of an apparent bureaucratic mishap

‘The police knew him and were unhappy with his social media accounts. $30,000 bail is not something that could be done for these charges,’ Sharma’s attorney told Buzzfeed.

By some bureaucratic mishap, Sharma had the misfortune of spending some of his sentence in a high-security psych ward.

After two weeks, Sharma was returned to a normal jail cell.