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Search for rightful owner of Ferrari valued at $1.9 million taken into custody at Peace Bridge

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Posted at 6:55 PM, Mar 17, 2021
and last updated 2021-03-17 18:55:37-04

BUFFALO, N.Y. (WKBW) — The U.S. Attorney’s Office for the Western District of New York is seeking to return a Ferrari that was taken into custody at the Peace Bridge in 2019 to its rightful owner.

According to the U.S. Attorney's Office, the 1996 Ferrari F50 valued at an estimated $1.9 million was being transported from Canada into the U.S. on December 14, 2019 when it was taken into custody at the Peace Bridge.

The vehicle was initially taken into custody at the Peace Bridge after it was discovered some of the rivets on the VIN plate were covered in a black tar type substance, inconsistent with factory standards. A hold was placed on the vehicle by CBP to conduct a further investigation. It was then revealed the vehicle was reported stolen in Italy in 2003.

The U.S. Attorney's Office filed a civil action seeking to determine the ownership of the Ferrari Wednesday.

“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 U.S. Attorney James P. Kennedy, Jr.. “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.”

Officials say since being taken into custody, multiple parties have claimed ownership of the vehicle.