The 1996 Ferrari F50 in query had solely been pushed 10,708 miles and was valued at $1,949,669, based on an appraisal made final yr for the federal government. Ferrari solely made 349 F50s to have fun the legendary car firm’s fiftieth 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 on the Peace Bridge Port of Entry in Buffalo, New York, observed one thing unusual, based on courtroom paperwork.

During their inspection, they noticed that the rivets holding the car’s car identification quantity (VIN) plate had been lined with a black, tar-like substance that was not in keeping with manufacturing unit requirements.

The CPB positioned a maintain on the car to research and contacted Ferrari and the National Insurance Crime Bureau.

They realized that the car had been stolen in March 2003 from a parking storage on the Hotel Dontello in Imola, Italy, and by no means recovered.

According to the paperwork, Paolo Provenzi, who lives in Italy, was in a position to show that he and his father and brother purchased the Ferrari a few month earlier than it was stolen for about $309,500 (€260,000). The loss was not lined by insurance coverage.

It’s unclear how the Ferrari received from Italy to Canada, the place Mohammed Alsaloussi of Florida purchased it in September 2019 for $1.435 million. Alsaloussi stated he had no concept that the car had been reported stolen, based on the submitting.

Now, each men need the car again.

Attorney Alessandra Piras, who represents Provenzi, instructed The Buffalo News, a NCS affiliate, that the vehicles travels had been “a complicated story.”

“When this is over, there’s going to be a movie made about this,” Piras instructed The Buffalo News. “This car has been going around the world, apparently. It was in Japan for a while.”

NCS tried to achieve Piras on Friday, however her workplace stated she was not instantly accessible.

Alsaloussi had registered the car to Ikonick Collections Ltd., a holding firm for his assortment of rare vehicles, based on the courtroom paperwork.

I hate to say it, but Ferrari's new convertible is worth every pennyI hate to say it, but Ferrari's new convertible is worth every penny

“Our client holds government-issued title and registration to the vehicle, and paid fair market value to a reputable seller,” stated Alsaloussi’s legal professional, Richard O’Neill, in a press release.

“Only recently have we discovered the existence of the other claimant. We have many questions about the facts and circumstances surrounding the alleged 2003 sale and theft. If the other claimant makes an appearance in this case, we intend to make a very thorough inquiry into the facts and circumstances surrounding his claim. We have been eagerly awaiting the filing of this action and look forward to resolving this matter.”

In the federal government’s submitting, the US Attorney’s Office stated it had “great doubt” about which claimant ought to get the car.

“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,” stated US Attorney James P. Kennedy Jr. in a press release.

“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.”

Until the case is settled, the car is being held by CBP in Buffalo.


Leave a Reply

Your email address will not be published. Required fields are marked *