Former F1 team owner Jean-Pierre Van Rossem, whose Onyx outfit raced in the late 1980s, has formally asked to be euthanised at a time of his choosing in his home country, Belgium.

Van Rossem, a flamboyant character with the appearance of a 1960s hippie who held a degree in economics, had allegedly devised a computer-based system called Moneytron which could endlessly predict winning trades in the stock market.

Unfortunately, it all turned out to be nothing but a huge ponzie scheme. But before the operation was shut down, Van Rossem lavishly spent millions, acquiring Onyx and running the team in the 1989 world championship with Stefan Johansson and Bertrand Gachot.

Van Rossem later dabbled in Belgian politics but was equally unsuccessful and quickly discredited.

In a recent interview published on Youtube, the former millionaire and con-man said the time had come to put an end to his life.

"I've had a very tumultuous life, but now it's enough," explained Van Rossem.

"I am declining and I want to decide on my own when I will stop living. I hope to be able to say before the end of the year: 'Now is enough'."

"I've had beautiful women and owned beautiful women cars. At one point, I was worth $891 million, and I lost everything by betting against my own system. I will confer with my two sons about my decisions, and I hope they will understand."

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