US Marshals auction FBI-seized Ferrari F40 for $760,000

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This 1991 Ferrari F40 once seized from a Santa Monica millionaire was sold at a U.S. Marshals auction for $760,000. | Apple Auctioneering photos
This 1991 Ferrari F40 once seized from a Santa Monica millionaire was sold at a U.S. Marshals auction for $760,000. | Apple Auctioneering photos

Most law enforcement auctions feature rather dull vehicles, but a 1991 Ferrari F40 seized from a California millionaire hammered sold this week at a U.S. Marshals auction for $760,000.

The Ferrari first emerged in a very different spotlight: It appeared on the television show Fast N’ Loud in 2013. At the time, it was totaled, but Richard Rawlings and his partner Dennis Collins brought it back to life.

The car had a couple owners after its TV debut and eventually made its way to Richard Scott, who made millions operating parking lots in Santa Monica, the Los Angeles Times reported. Scott pleaded guilty last year to conspiracy and wire fraud charges after stealing more than $11 million from the Department of Veterans Affairs by skimming parking revenues.

After the plea, the Federal Bureau of Investigations seized Scott’s collection of high-end vehicles, including the F40. It’s standard practice for the FBI to turn over seized assets to the U.S. Marshals during litigation for safekeeping.

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The sale of the F40 — and several other of Scott’s Ferraris and Corvettes — was done to pay millions in restitution that was reportedly part of his plea deal.

The Ferrari was sold by Apple Auctioneering, a Houston-based company that contracts with the federal government to sell seized assets. Proceeds are sent back to law enforcement or used for victim compensation.

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Carter Nacke is a graduate of the Walter Cronkite School of Journalism and Mass Communication at Arizona State University. He began his career at KTAR News 92.3 FM in Phoenix, the largest news radio station in Arizona, where he specialized in breaking news and politics. A burgeoning interest in classic cars took him to the Journal in 2018. He's still on the hunt for his dad's old 1969 Camaro.

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