French Crypto Dealer Jailed for 18 Months for Shopping for a Ferrari With Bitcoin – Regulation Bitcoin Information


A French crypto dealer, Thomas Clausi, is at the moment jailed in Morocco the place he was convicted of the crime of buying a Ferrari utilizing bitcoin. Clausi’s arrest and subsequent jailing got here after a girl, who bought him a Ferrari for $440,000 in April 2021, filed a grievance in opposition to the crypto dealer when the value of the crypto asset had dropped to only over $30,000.

Crypto Dealer Ordered to Pay Wonderful of $3.7 Million

A 21-year-old Frenchman and crypto dealer, Thomas Clausi, is at the moment serving a jail time period in Morocco for allegedly shopping for a supercar price $400,000 with bitcoin, a report has stated. Along with slapping Clausi with an 18-month jail time period, the Moroccan court docket additionally ordered the crypto dealer to pay a high quality of over $3.7 million (€3.4 million).

In accordance with a report by Gararin Information, hassle for the Frenchman started when a girl who bought him a Ferrari for almost $440,000 filed a fraud case in opposition to him. Though Clausi is alleged to have paid the complete quantity in April 2021 utilizing BTC, the unnamed girl solely filed her grievance in July when the value had dropped. As proven by the crypto asset’s information, throughout this era, the worth of 1 BTC fell from greater than $60,000 seen in mid-April to only over $31,500 by July 17, 2021.

Following the submitting of the grievance, authorities in Morocco — the place crypto buying and selling is outlawed — are stated to have opened an investigation. By October of that yr, Clausi was convicted of the crimes of fraud and the “fee with overseas foreign money on Moroccan territory.” Though the value of BTC did rally to over $40,000 in December, Moroccan authorities had been unmoved and nonetheless had the Frenchman thrown into jail.

Though Clausi is just left with a couple of months earlier than he finishes the sentence, his legal professionals are reportedly nonetheless making an attempt to safe his early launch. As an example, in a single listening to the place they had been in search of to have his sentence decreased, the legal professionals instructed the court docket that Clausi had prior to now purchased costly Swiss watches utilizing crypto and that the value of BTC had equally surged afterwards.

Nevertheless, as an alternative of lowering the sentence, the Moroccan court docket nonetheless ordered Clausi to reimburse the vendor with an equal of $4,200 in native foreign money.

What are your ideas on this story? Tell us what you suppose within the feedback part under.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, creator and author. He has written extensively in regards to the financial troubles of some African international locations in addition to how digital currencies can present Africans with an escape route.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or corporations. doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any injury or loss brought about or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.


Please enter your comment!
Please enter your name here