$300,000 Ferrari and BMW Seized for Speeding now up for Auction
Two 31 year old men learned the hard way that speeding in the Province of British Columbia, Canada can cost you….Dearly!
The B.C. government is using its new civil forfeiture law to seize a $235,000 Ferrari Scuderia and a BMW M6 valued at $75,000 after two drivers were caught street racing.
The blue 2008 Ferrari Scuderia and white 2008 BMW M6 were impounded after being stopped speeding /racing up Mount Seymour in North Vancouver on Sept. 27 — with the Ferrari narrowly missing a mother walking with her children.
Both vehicles were travelling at an estimated speed of 200 km/h in a 60 km/h zone, according to police and each driver was banned from driving for 15 days.
“The kind of driving our member witnessed warranted a much more serious response than a ticket and temporary impoundment, and civil forfeiture allowed for that response,” said North Vancouver RCMP Supt. Tonia Enger, in statement released by the government.
New Civil Forfeiture Act was strengthened a couple year ago to give the BC government the powers they need to just what’s need to enforce the laws, those powered include forfeiture of property.
However, this isn’t the first time BC has used this evil power, in 2007 a chrome-laden 2003 Hummer H2 with Lamborghini-style hydraulic doors and a $16,000custom audio system,
and a 2002 GMC Denali with chrome spinner wheels were seized under the Civil Forfeiture Act on the basis that the vehicles were used for drug trafficking.
However, all the news is not bleak for the two drivers as the government isn’t going to keep all the money made at auction.
Fifty per cent of the proceeds of the Ferrari sale will go to a relative of the driver who was part owner of the vehicle but not involved in the incident. The driver will get 30 per cent, and the province will take the remaining 20 per cent.
Storage fees and repaying a bank debt will be paid first from the BMW proceeds. Seventy percent will go to the driver, with another 30 per cent going to the province.
So if you’re in the market for a blue Ferrari Scuderia or a white BMW M6, you know where to go.
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