With Bitcoin increasing in popularity, BTC scams began to be heard very often. However, the incident in Morocco is a little different from other fraud cases.
Thomas Clausi, 21, a French citizen living in Morocco, has been sentenced to jail and fine for Bitcoin fraud.
According to Euronews, the Casablanca Court of Appeals upheld the conviction of Thomas Clausi for fraud and illegal use of cryptocurrencies.
With this decision, the appeal court said that Clausi found 18 months in prison and a fine of $ 3.7 million.
Clausi used Bitcoin to buy Ferrari cars in 2021.
The young man bought a Ferrari car worth $436,000 from another French citizen woman living in Casablanca, paying with BTC.
However, the Moroccan government, describing this BTC payment transaction as an illegal fund transfer, did not recognize the payment made in Bitcoin and considered the payment not made.
The Moroccan government did not accept payments made in BTC, as the use of cryptocurrencies within the territory of the country is considered illegal according to Moroccan customs.
The case against Clausi began when the woman he bought Ferrari from accepted a Bitcoin payment of about $436,000, after which he complained about Clausi for fraud.
*Not investment advice.