Advertisement

Rich Bitcoin Trader Risks Death Penalty for Building Home on the Sea

Wealthy Bitcoin trader Chad Elwartowski took his crypto stockpile and built a home on the sea. For this crime, he risks the death penalty. | Source: Shutterstock
Wealthy Bitcoin trader Chad Elwartowski took his crypto stockpile and built a home on the sea. For this crime, he risks the death penalty. | Source: Shutterstock

By CCN: Thai officials are royally enraged at a man named Chad Elwartowski, reportedly a wealthy Bitcoin trader, for deciding to build a platform house off the coast of Phuket.

Building Your Own Country At Sea Can Cost Your Life in Thailand

A formal complaint has been filed, the charge being the violation of Thailand’s criminal code, section 119. That section of Thai law reads:

“Whoever, does any act with intent to cause the Country or any part thereof to descend under the sovereignty of any foreign State, or to deteriorate the independence of the State, shall be punished with death or imprisonment for life.”

Authorities believe that by building a “seastead” or homestead on the sea, Elwartowski and his wife, Supranee Thepdet, are attempting to create an independent state and threaten the sovereignty of Thailand.

bitcoin thailand
bitcoin thailand

A wealthy Bitcoin trader now faces the death penalty after trying to build a seastead in Thailand. | Source: Shutterstock

The charge is dangerous, and a police official told the Bangkok Post that the structure would be torn down before long. Additionally, the company which built the structure is now under investigation.

Officials argue that the structure is a barrier to oil ships bound for Phuket. It seems self-evident, given the reporting and handling of the situation, that Elwartowski took no efforts to obtain permission to build the platform.

Read the full story on CCN.com.