Italian police bust fake Ferrari ring
Italian police yesterday raided several bodyshops across the county and uncovered a gang of criminals that were building replica Ferrari Modena 360s.
Seven completed cars were impounded, along with seven uncompleted models. Second-hand models of the car, which went out of production in 2004, currently sell for around £75,000, but the gang was reportedly selling them for £15,000.
However, nobody has been arrested yet as the eight people under suspicion are arguing that the cars, which were based around mid-engined Pontiac Fieros, were being built to be sold as kit cars, instead of being passed off as real Ferraris.
A Ferrari spokesman said the company constantly monitored websites checking for fakes, adding: 'Ferrari is a product that maintains its value over time and, of course, we try to protect our clients who buy the real thing. When a car is not official, it does not have the characteristics it should have for the brand.'
The investigation continues.