A wealthy 20-year-old in Europe decided to burn his own Ferrari so he could collect insurance money and get a newer model. Now this is a 20-year-old Swiss man who reportedly set fire to a Ferrari 458 Italia given to him by his father in a half baked scheme to use the insurance money to upgrade the model.

Cenk Uygur and Ana Kasparian (The Point) hosts of The Young Turks discuss. You won’t believe how much OTHER stuff this kid got from his Dad. Tell us what you think in the comments

Read more here: https://www.yahoo.com/autos/s/spoiled…

In a bizarre case out of Europe, a 20-year-old Swiss man reportedly set fire to a Ferrari 458 Italia given to him by his father in a half-baked scheme to use the insurance money to upgrade to a new model. Incredibly, the spoiled brat is said to have had 14 other cars (including a Lamborghini) at his disposal in addition to a property portfolio worth close to $30 million and a monthly allowance that fluctuated between $5,000 and $10,000.

As Swiss publication 20 Minutes first reported, the 20-year-old in March of 2014 visited a dealership to get his car valued so that he could trade it in for a new model, possibly the 458 Speciale which went on sale about then. The quote he received was $193,500, which wasn’t enough to cover the cost of the new model.

It’s alleged the man was short of funds at the time so one of the dealers suggested he destroy his car in order to claim the insurance value, which presumably was higher than the quoted value. Three accomplices were recruited, including a person working at the dealership, and to avoid suspicion the group crossed the border into Germany to do the dirty deed.