The frightened 11-year-old emerged from hiding under a bed to strike the deal and handed over his four pounds (about $6) pocket money. The baby-faced gang leader fled the raid after that, a judge heard.
Ricky Purcell, 20, "whose masked thugs had burst in armed with knives and hammers" amazingly agreed to leave with the cash, The Sun reported.
Policemen later nicked the self-styled "Mr Big" over the raid which saw the boy's mother hit over the head as she pleaded with the gang not to hurt her kids in Cornwall. Her partner was tortured with a knife.
At the Truro Crown Court, Purcell admitted violent disorder and was locked up for six years and eight months.