1977 Ferrari 308 Gtb on 2040-cars

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Michigan man gets jail time for Ferrari engine sale

Tax evasion is not something to mess about with. Ask Al Capone. For most of us that sell stuff, though, it's not something we really think about. Are you honestly going to pay taxes on that old iPhone 5 you sold? The couch with the questionable stain? No, because paying tax on something you sold for a relative pittance is just a pain in the butt. If you sell one of Aurelio Lampredi's Ferrari engines – used in a range of vintage racers, including the 750 Monza shown above – for over $600,000, you might want to make a point of paying the taxes on your profits. A Michigan man found that out the hard way, Reuters reports, after selling the Lampredi engine in 2009. 71-year-old Terry Myr of Smiths Creek, MI, was convicted in April of tax evasion and four counts of failing to file a tax return and was sentenced to two years in prison and two years of supervised release on Thursday. He was also ordered to pay $738,904 in back taxes, interest, and penalties – he already owed $195,000 in back taxes before his conviction – by a US District Court judge, Reuters reports. Now, this wasn't a simple case of Myr forgetting to set some money aside from the sale. The buyer wire-transferred the $610,000 into a corporate account he made the week prior. Then, Myr promptly withdrew $360,000, which he used to buy silver and gold coins, while the remainder was transferred to other accounts – be they personal or corporate – or simply used for checks to cash. Hence the tax evasion charge. According to Reuters, no explanation was given as to how Uncle Sam uncovered the engine sale in the first place. Related Video:

Ferrari supercar hybrid prototype chased down by fan

As discovered by Ferrari Chat and reported by Motor1, an Instagram user by the name Lambolife (@9000lambo) and a friend were out cruising in Europe when they ran across what looks like a Ferrari prototype, possibly a hybrid based on the F8 Tributo. The pair got the car on video as they were chasing it down the road and into a parking lot where the prototype driver tried to hide. Besides being amusing to watch the test driver trying desperately to keep the fans from seeing the car, we actually get a good glimpse at the vehicle. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Looking closely, the size and shape is very similar to the F8 Tributo, which is the latest evolution of the 488 GTB, and the 458 GTB before that. The shape of the rear spoiler and the edge of the front nose are particularly similar to the F8. But there are a couple differences, starting with the exhaust. On the regular car, the pipes are mounted low and set far apart. On this prototype, the pipes come out much higher up, and they're very close together. On top of that, you can just make out the triangular electrocution hazard sticker on one side of the car. This suggests it's a hybrid. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. A hybrid Ferrari similar to the F8 makes sense with other news we've heard recently. The company has confirmed it's working on hybrid drivetrains. Past reports say that one of them is a V6 hybrid with as much as 728 horsepower and 800 pound-feet of torque, and the other is a V8 hybrid with unknown performance, but most certainly greater than the V6. The first of the engines will be released in May, and since Ferrari's CEO said it will exceed the 812 Superfast, which makes 789 horsepower, that first engine will probably be the V8. This could be a prototype of Ferrari's soon-to-be-released V8 hybrid. It's also possible that this is simply a powertrain test mule, or a prototype for the V6 model coming later. At least we're half way through May, so we should have the answers to our questions very soon.

1972 Ferrari 365 GTB/4 Daytona is viceless in Miami Scottsdale at Barrett-Jackson

We love the Ferrari 365 GTB/4 Daytona. It's most definitely a classic, made famous in part by its appearance as Don Johnson's favored ride in the classic '80s television series Miami Vice... but we won't hold that against it.
The specific example you see above just crossed the block at the 2013 Barrett-Jackson extravaganza in Scottsdale, and it cleared a cool $495,000 after the buyer's commission was factored in. The 1972 Daytona features a sweet-sounding V12 engine mated to a five-speed manual gearbox.
Plus, it's brown, with a tan interior. Stunning. Check it out in our high-res image gallery above, and be sure to read through its official auction description below.