The 20-year-old paid three men to destroy his £150,000 Ferrari 458 so the insurance money would help cover the cost of a new £200,000
supercar.
The man appeared at a court in Augsburg, Germany, where a judge heard he receives a £6,500-a-month allowance from his dad and owns 14 other cars.
According to local media reports, the Swiss businessman's son parked the vehicle outside a massage parlor and went in for a massage as an alibi.
His three accomplices - aged between 20 and 30 then torched the car where it was parked. Witnesses said they had seen men tampering with the car and a police investigation was launched
But security cameras captured the whole incident and police eventually arrested the three men and the young Ferrari owner.
The wealthy 20-year-old posted bail to free himself from custody and has now been handed a 22-month probation period.
The judge sentenced him to 22 months probation and a €21,500 fine.
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