Fake Ferraris are the latest haul in fight against counterfeits

Published on Thursday 28 February 2008 21:11

ITALIANS are used to buying bogus Gucci bags or Rolex watches to look stylish, but police found a new height of craftsmanship and cunning when they broke up a ring selling fake Ferrari cars for a fraction of the real price.

Authorities have confiscated 14 fake Ferrari Modena 360s in an operation stretching from Palermo to Milan.

Guido Geremia, head of the Palermo unit of the Italian financial police that led the inquiry, said eight people were under investigation.

The vehicles were sold at bargain counterfeit prices as cheap as 20,000 apiece, officials said.

The majority of the fake cars, were seized in the Mafia stronghold of Palermo and were put together using parts salvaged from stolen cars and write-offs.

Investigators do not know how many of the cars have been sold in the past – but Mr Geremia said the buyers knew the cars were fakes and were clearly seeking to impress less-knowledgeable neighbours with the high-priced speed machines.

"The sales were being made on the internet and we monitored online car sales sites to keep an eye on where these fake cars were going," he said.

"The buyers were mainly businessmen or industrialists who were fully aware they were fake but could not afford, or did not want to pay the genuine prices."

The ring used mostly US-made Pontiac sports cars as their base, but also Mercedes and Toyotas, building a copy of a Ferrari body over the original car's engine. "It was done very well, they were very skilled," Mr Geremia said.

"They were selling dozens each month and making millions of euros a year. It was a well-run Mafia operation."

Dozens of false Ferraris have been seized by the police in Italy over the last 25 years.

The biggest bust took place near Cuneo in 1985, when 50 perfect imitations of the 1962 Ferrari GS were seized.