French Crypto Trader Imprisoned After Ferrari Purchase with Bitcoin
A French cryptocurrency trader, Thomas Clausi, has been jailed in Morocco after being convicted of using Bitcoin to purchase a luxury Ferrari for approximately $440,000 in 2021.
According to Gararin News, Clausi, now 21, received an 18-month prison sentence and was fined over $3.7 million (€3.4 million) after a complaint was filed by the woman who sold him the car.
Ferrari Deal Turns Into a Legal Battle
The incident dates back to April 2021, when Clausi reportedly completed the Ferrari purchase using Bitcoin during a period when the cryptocurrency’s price was soaring above $60,000.
However, by July 2021, Bitcoin’s value had dropped sharply to around $31,500. The seller, claiming she was defrauded due to the drastic price change, filed a complaint against Clausi.
Moroccan authorities, who strictly prohibit cryptocurrency trading and payments, opened an investigation soon after.
By October 2021, Clausi was convicted on charges of fraud and payment with foreign currency on Moroccan territory, leading to his imprisonment.
Price Volatility Didn’t Sway the Court
Despite Bitcoin’s later rebound to over $40,000 by December 2021, Moroccan authorities upheld the sentence. Clausi’s legal team argued that he had conducted similar high-value transactions in the past, including purchasing Swiss luxury watches with cryptocurrency, and had profited afterward as Bitcoin’s price recovered.
Nevertheless, the Moroccan court declined to reduce his sentence, instead ordering him to reimburse the car seller $4,200 in local currency.
Broader Implications for Crypto in Morocco
The case underscores the legal risks of using cryptocurrency in countries where digital assets remain outlawed. Morocco continues to enforce its ban on crypto transactions, citing concerns about money laundering and financial instability.
Although Clausi’s sentence is set to end within a few months, his defense team continues to seek an early release, citing the case’s unusual nature and the global debate over crypto’s legal status.
The incident serves as a stark reminder of the regulatory disparities between nations and the potential consequences of using decentralized currencies in restrictive jurisdictions.
