The man said he didn’t have the heart to tell his father he didn’t like the Ferrari (Picture: Augsburg Police)

A 20-year-old who may well be the world’s most spoiled brat torched his Ferrari so he could use the insurance money to buy a newer model.

The man, from Switzerland, has 14 other cars (including a Lamborghini) as well as a property portfolio worth close to £19million and a monthly allowance of nearly £5,000.

But that didn’t stop him torching a Ferrari 458 Italia given to him as a gift by his father in the hope that he could use the insurance money to upgrade to the newer model.

Swiss publication 20 Minutes reports that the man went to a dealer in the hope of exchanging his Ferrari, but quote he received was £124,000 and not enough for the 458 Speciale he reportedly wanted. It was then that the dealer allegedly suggest he destroy his car for the insurance money, which was higher than the quoted value.




MORE: Ted Heath was a ‘shy gay man’ but not a paedophile, claims brothel madam

The man and three accomplices carried out the fraud in Germany (Picture: Augsburg Police)

Three accomplices were apparently recruited, including a worker at the dealership, and the trio crossed the border to Germany to carry out the act.

The 20-year-old and one accomplice visited a massage parlour while the other two set fire to the car.

Security camera footage and telephone recordings led to a prompt arrest of all involved. At a court in Augsburg, Germany, the 20-year-old received 22 months of probabtion and a £21,000 fine. His accomplices received probations between 14 and 16 months.

Asked why he carried out the plan, the man said that he didn’t have the heart to tell his father he didn’t like the Ferrari.

MORE: KFC is now selling pink burger buns in China and no one knows how to feel