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

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US bitcoin trader may face death penalty in Thailand over 'sea home'

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Cryptocurrencies death penalty

Postby Samuktilar В» 15.01.2020

.

The Royal Thai Navy has towed a floating home owned by an American bitcoin trader and his Thai girlfriend, who currently face possible death sentences or life imprisonment for "deteriorating Thailand's independence," according to multiple reports.

Chad Elwartowski and his partner Supranee Thepdet lived in the cabin roughly 15 miles from the Thai coast to avoid jurisdiction from the Thai government, according to British news outlet Sky News. Thai authorities have revoked Elwartowski's visa and charged the couple for violating Thai sovereignty — an offense punishable by the death penalty or life imprisonment, according to Reuters. Thailand's navy on Monday sent three boats to dismantle the floating cabin — also known as a "seastead" — and bring it back to shore as evidence, Sky News said.

Elwartowski and Supranee are prominent members of Ocean Builders , a community of "seasteading" entrepreneurs which funded and built the hexagonal cabin. The couple reportedly left the cabin last week after being tipped off about Thailand's plans. Their whereabouts remain unknown, but authorities believe they are in Thailand, Sky News reported.

We are still quite scared for our lives," Sky News reported Elwartowski as saying in a statement. In a statement released Monday, The Seasteading Institute's chairman Patrick Friedman said he was "shocked and saddened last week by media reports that this couple was charged with treason — punishable in Thailand by death or life imprisonment — simply because no one had filed paperwork for the floating home.

Read more about the couple's seastead home and the Thai Navy's response in Sky News' report. Sign up for free newsletters and get more CNBC delivered to your inbox.

Get this delivered to your inbox, and more info about our products and services. All Rights Reserved. Data also provided by. Skip Navigation. Markets Pre-Markets U. Key Points. Thailand's navy has towed a floating home owned by an American bitcoin trader and his Thai girlfriend, according to multiple reports.

Chad Elwartowski and his partner Supranee Thepdet lived in the cabin roughly 15 miles from the Thai coast in a self-professed bid to avoid the Thai government's jurisdiction. Authorities have revoked Elwartowski's visa and charged the couple for violating Thai sovereignty — an offense punishable by the death penalty or life imprisonment.

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