Two wealthy enthusiasts fight over stolen Ferrari F50 4

Found more than 16 years after its declaration of theft, this Ferrari F50 poses major problems for its two “owners”. Having had a second life since its theft, two rich enthusiasts claim ownership.

It all started in 2003, when this 1996 Ferrari F50 was stolen from the garage of a luxury Italian hotel. Bought by a father and his two sons for around $ 309,500, the car was not covered by insurance against theft and they never saw the rare supercar again. Finally, until she reappeared at the end of 2019 at the Canada-U.S. Border as she was shipped to her new owner in Florida. CNN reports that the U.S. government is currently pursuing legal action to determine who actually owns the F50, now valued at nearly $ 2 million.

U.S. Customs and Border Protection (CBP) officers inspecting the F50 noticed something that looked suspicious: The rivets holding the VIN plate were covered “A black tar-like substance that did not meet factory standards”. The car was immediately immobilized while the CPB contacted Ferrari and the “National Insurance Crime Bureau”. Their suspicions were immediately confirmed. Paolo Provenzi bought the F50 with his father and brother and has no idea how she ended up in Canada. Its new owner, Mohammed Alsaloussi, who paid the $ 1.435 million to buy it in March 2019, also claims to know nothing about the situation.

A legal puzzle

Although the two men do not appear to be involved in the theft, they each claim legitimate ownership of the car. Lawyers are being sought and the U.S. Attorney’s Office for the Western New York District filed a civil action last week to determine who owned the car. “When this is over, there will be a movie about it”, said Provenzi’s lawyer. “This car has been around the world, apparently. She was in Japan for a while ”.

Meanwhile, Alsaloussi’s lawyer argues that his client is the real owner. “Our client holds government issued title to the vehicle registration and paid fair market value to a reputable seller,” said attorney Richard O’Neil. “It was only recently that we discovered the existence of the other plaintiff. We have many questions about the facts and circumstances surrounding the alleged 2003 sale and theft. If the other claimant appears in this case, we intend to conduct a very thorough investigation of the facts and circumstances. surrounding his claim ”.

The United States Attorney’s Office says it has “great doubt” about the ownership of this Ferrari F50. Suffice to say that the Italian hypercar is not ready to find its real owner.