A man who chopped up his business partner’s body and then drove the victim’s white Ferrari with his bloody clothes on the passenger seat to confess to the police has been sentenced for his crimes.

Peizheng Qiu, 30, was sentenced to life in prison with no chance of parole for 14 years after he admitted to the second-degree murder of his business partner, Xiao Xuan Long Yu, whose father is a prominent lawyer in China.

The trouble began after Qiu and Yu, who met in school, went into business together with the plan to flip houses in the then red-hot GTA housing market.

Qiu went into debt with Yu before eventually signing an “acknowledgement of debt” owed to Yu, in the range of $1.3 million.

Eleven days before his second payment of $50,000 was due, Qiu went to Home Depot in his BMW and picked up a number of items, including a reciprocating saw, gloves, masks and coveralls.

He then called Yu and told him to meet him at one of their investment properties, at 2 Laureleaf Cres. in Thornhill, where he can be seen on surveillance showing up with the tools that morning.

Soon after, the surveillance ceases to function.

At 11 a.m., Yu’s white Ferrari arrives at the house, where Qiu said the pair got in an argument over money, followed by alleged threats by Yu against Qiu’s family in China.

Qiu then said he hit Yu in the head with a hammer more than once, while Yu continued to threaten Qiu’s family.

It was at this point that Qiu put his hands around Yu’s neck for two minutes with the intention to kill him.