The footage, which was shown in court, shows Casson, from Galgate, near Lancaster, putting the car gear box into race mode and then moving through the gears, bringing the speed up to 164km/h. He then says to Moore: "That's it: a ton in seven seconds. How quick is that? Quicker than 'owt you have ever been in." Moore is also heard saying: "I am videoing you ... Hell that quick."
Jailing him for 10 weeks, District Judge Jeff Brailsford said: "This was a big, fast, powerful car and the risk you created was enormous as you drove to impress the passenger. It was only by the grace of God that nothing happened."
Peter Bardsley, prosecuting at Blackpool Magistrates' Court, said Casson had driven along the road at speeds of up to 190km/h as the road went from a 50km/h limit to a 100km/h limit, and also dangerously overtaken a van on a bend, neither of which were filmed.
He said driving the car at that speed would have meant other vehicles would not have the chance to get out of the way.
The footage was not revealed until some time after the incident, when Moore threatened to put it online unless he got his way with the business deal, Bardsley said.
John Halewood-Dodd, defending, said he did not believe Moore had doctored the footage and that Casson was simply trying to impress his business contact.
Casson was banned from the road for 18 months and must take a re-test before he can drive again.
He will be sentenced at a later date at Preston Crown Court after pleading guilty to 23 counts of dishonestly making false representations for financial gain. One of the offences included fraud by false representation to Ferrari Financial Services that he had won £1.24 million on the lottery, intending to obtain a financial agreement to buy a Ferrari 458.
When Casson was interviewed by police he told them: "I am used to driving high-powered vehicles. I have had the Ferrari for a year. I gave it a bit of a blast and may have exceeded the limit. It was a bit fast but it was not dangerous, just normal."
