Thomas Clausi, a trader from France, is currently in jail in Morocco. He did something illegal; he bought a Ferrari car with bitcoin. In April 2021, someone sold the Ferrari to Thomas for $440,000 but when the price of the bitcoin dropped, they complained and Thomas Clausi was arrested and put in jail.
Frenchman Gets 18-Month Prison Sentence for Buying $400,000 Ferrari Using Bitcoin
A Frenchman who is 21-years-old and trades in cryptocurrency got into trouble with the law in Morocco. He was given an 18 month jail sentence because he bought a super expensive car worth $400,000 using Bitcoin. On top of that, the court asked him to pay a fine of more than $3.7 million!
A French man got into trouble when a woman he bought a Ferrari from filed a fraud case against him. He made the payment of 440,000$ for this Ferrari in April 2021 with Bitcoin but she only reported it to the police in July when the value of Bitcoin went down which cost the man money. The data shows that in April 2021 one BTC was worth around 60,000$, but by 17th July 21 it dropped to 31,500$.
After a complaint was reported, Morocco (where cryptocurrency trading is not allowed) investigated it. By October, the person – named Clausi – who was responsible for this crime was convicted of fraud and “paying with foreign money in Morocco”. Even though the price of Bitcoin went up to over $40,000 by December, Moroccan authorities still threw him into prison.
Clausi is still trying to get out of his sentence even though he has only a few months left. His lawyers told the court that Clausi had bought expensive Swiss watches by using cryptocurrency, and soon after, its value had increased considerably.
The Moroccan court said that Clausi should give money back to the seller, which was worth around $4,200. Do you have an opinion on this topic? Give us your thoughts and tell us what you think in the comments section below.