18-Month Prison Sentence for Purchasing a Ferrari with Cryptocurrency
Thomas Clausi, a French cryptocurrency enthusiast, has been incarcerated in Morocco following his conviction for acquiring a Ferrari with bitcoin. Clausi's detention and subsequent imprisonment were a result of a lawsuit filed by a woman who sold him the luxury car for $440,000 in April 2021. She lodged a complaint against Clausi when the value of the digital currency plummeted to just above $30,000.
Crypto Enthusiast Instructed to Pay a $3.7 Million Penalty Thomas Clausi, a 21-year-old French national and crypto enthusiast, is currently serving a prison sentence in Morocco for reportedly procuring a high-end car, worth $400,000, using Bitcoin, as per a report. Along with an 18-month prison sentence, a Moroccan court also imposed a penalty of over $3.7 million (€3.4 million) on Clausi.
As reported by Gararin News, the Frenchman's troubles began when a woman who sold him the Ferrari for approximately $440,000 filed a fraud complaint against him. Clausi is said to have settled the full payment in April 2021 using BTC, but the woman only lodged her complaint in July when the value had depreciated. As per the digital currency's data, during this period, the price of one BTC declined from a mid-April high of over $60,000 to just above $31,500 by July 17, 2021.
Upon receiving the complaint, Moroccan authorities, where cryptocurrency trading is prohibited, initiated an investigation. By October of the same year, Clausi was found guilty of fraud and the "use of foreign currency within Moroccan jurisdiction." Even though the BTC price managed to recover to over $40,000 in December, Moroccan officials remained unfazed and kept Clausi incarcerated.
While Clausi has only a few months left before completing his sentence, his legal representatives are still making efforts to secure his early release. For example, during a hearing where they were petitioning for a reduced sentence, the attorneys presented to the court that Clausi had previously purchased high-priced Swiss watches with cryptocurrency and that the price of BTC had correspondingly spiked thereafter.
However, rather than lessening the sentence, the Moroccan court still demanded Clausi to compensate the seller with an amount equivalent to $4,200 in local currency.
