The US government is going to court to sort out who really owns an almost $2 million Ferrari supercar with a top speed of more than 200 mph and a history as twisty as the Monaco Grand Prix course it could call home.
The US Attorney’s Office for the Western District of New York filed a civil action on Wednesday seeking to determine the ownership of car.
The 1996 Ferrari F50 in question had only been driven 10,708 miles and was valued at $1,949,669, according to an appraisal made last year for the government.
Ferrari only made 349 F50s to celebrate the legendary car company’s 50th anniversary.
The car was being shipped from Quebec, Canada, to a car collector in Florida in December 2019 when US Customs and Border Protection (CBP) officers at the Peace Bridge Port of Entry in Buffalo, New York, noticed something strange, according to court documents.
During their inspection, they saw that the rivets holding the car’s vehicle identification number (VIN) plate were covered with a black, tar-like substance that was not consistent with factory standards.
The CPB placed a hold on the car to investigate and contacted Ferrari and the National Insurance Crime Bureau.
They learned that the car had been stolen in March 2003 from a parking garage at the Hotel Dontello in Imola, Italy, and never recovered.According to the documents, Paolo Provenzi, who lives in Italy, was able to prove that he and his father and brother bought the Ferrari about a month before it was stolen for about $309,500 (€260,000).
The loss was not covered by insurance.It’s unclear how the Ferrari got from Italy to Canada, where Mohammed Alsaloussi of Florida bought it in September 2019 for $1.435 million. Alsaloussi said he had no idea that the car had been reported stolen, according to the filing.
Now, both men want the car back.
The US government is going to court to sort out who really owns an almost $2 million Ferrari supercar with a top speed of more than 200 mph and a history as twisty as the Monaco Grand Prix course it could call home https://t.co/tPNzfp2v7T— CNN International (@cnni) March 19, 2021
U.S. Attorney James P. Kennedy Jr. said, “After investigation, my Office determined that it would not be appropriate for us to exercise our authority and forfeit this extremely valuable and previously stolen luxury car.
Instead, after an 18-year odyssey, which we know took it across continents and countries, we have decided that the time has come for a court of law to determine the rightful owner of the vehicle.”