A 20-year-old reportedly torched his Ferrari to get a better model

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.

According to German publication 20 minutes, the Swiss millionaire’s son and three accomplices burned out his Ferrari 458 Italia in March of past year.

Instead, he decided to do the next best thing-commit insurance fraud. The 20-year old kid had come up with a big plan to make his father buy him a new supercar and he paid 3 accomplices a total of 15,000 Dollars to torch the exotic vehicle, while he made sure that he has a proper alibi.

But the insurance company smelt a rat and after CCTV footage and phone records were checked, the man was arrested along with three accomplices. The owner went to a massage parlor while two others – who each received 15,000 francs for their efforts – set the Ferrari ablaze.

The Ferrari was indeed toasted to a crisp, but the arson was caught on security camera and traced back to the 20-year-old; after telling his story to the courts, he was sentenced to 22 months’ probation and fined roughly $32,000.

The website further reports he had access to 14 luxury cars including a Lamborghini and a property portfolio valued at R383 million and an allowance of R127,000 a month.

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.