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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:

Buy a McLaren P1 GTR, Porsche 918 Spyder, and a Ferrari LaFerrari all in one place

The McLaren P1, Porsche 918 Spyder, and Ferrari LaFerrari, are arguably the three greatest hypercars yet. Of course, their extremely limited production meant that some ultra-wealthy individuals may have missed out on picking one up. In fact, to get a LaFerrari, you needed to have owned a certain number of Ferraris, and be in good graces with the company. However, if there are any super-rich car enthusiasts reading this right now, your chance to buy one or all of these three supercars is coming up next month at the RM Sotheby's Villa Erba auction in Italy. It will occur on May 27, and feature a McLaren P1 GTR, Porsche 918 Spyder Weissach, and Ferrari LaFerrari. 2016 McLaren P1 GTR McLaren fans, will RM Sotheby's won't offering just any McLaren P1, but rather the hardcore, track-prepped GTR variant. In fact, the GTR is so hardcore that it isn't legal for the street. This particular version went to specialist Lanzante to be converted for road use. Take note that it's only road legal in the UK, and it may not meet laws for other countries. However, that's still more than most GTRs can boast, and if you have the money for this, you shouldn't have any issue taking it to the UK to unleash the P1 GTR's 986 horsepower on public roads. This car could use some driving, too, as it only has about 223 miles on it, some of which included just one track event. RM Sotheby's expects this McLaren to go for between $3.4 million and $3.85 million. 2015 Porsche 918 Spyder Weissach View 31 Photos The Porsche 918 Spyder going up for auction is a special one as well. The first difference you'll notice is that it has been painted a custom color called "Arrow Blue," a hue specially mixed up as part of Porsche's custom paint service. It also features the lightweight Weissach package, which loses a few extra pounds by replacing an assortment of parts for lighter components. Among them are magnesium wheels and wheel bearings, carbon fiber roof, windshield frame, rear fenders, and rear view mirrors, and even titanium-backed brake pads. According to RM Sotheby's those pads have been replaced with fresh 918-spec pieces. The previous owner clearly enjoyed his or her 918, as it has just over 6,800 miles. In case you're interested in a well-loved 918, the auction house expects it to sell for just under $1.3 million to about $1.5 million.

2015 Australian Grand Prix all about grooves and trenches [spoilers]

We can't remember the last time 90 percent of the action in Formula One had nothing to do with cars setting timed laps. Yet that's was the situation at the Australian Grand Prix, continuing the antics from a scarcely believable off-season with blow-ups, driver and team absences, a lawsuit, and a clear need for some teams to get down and give us 50 pit stops. Nothing much has changed from a regulation standpoint, and at the front of the field nothing has changed at all. Lewis Hamilton in the Mercedes-AMG Petronas claimed the first position on the grid like someone put a sign on it that read, "Reserved for Mr. Hamilton;" teammate Nico Rosberg was 0.6 behind in second, Felipe Massa in the Williams was 1.4 seconds back in third. Sebastian Vettel proved that Ferrari didn't do another Groundhog Day routine this off-season, slotting into fourth. His teammate Kimi Raikkonen was not even four-hundredths of a second behind, ahead of Valtteri Bottas in the second Williams, Daniel Ricciardo in the first Infiniti Red Bull Racing, and rookie Carlos Sainz, Jr. in the first Toro Rosso. Lotus, now powered by Mercedes, got both cars into the top ten with Romain Grosjean in ninth, Pastor Maldonado in the final spot. However, even though the regulations are almost all carryover, in actual fact, everything has changed this year. Mercedes is even faster. Renault is even worse. Ferrari and Lotus are a lot better. Toro Rosso is looking like anything but a junior team. And McLaren is – well, let's not even get into that yet. Furthermore, this weekend was shambles: 15 cars started the race, the smallest naturally-occurring grid since 1963. Manor couldn't get its cars ready before qualifying. Bottas had to pull out after qualifying when he tore a disc in his back and couldn't pass the medical clearance tests. The gearbox in Daniil Kvyat's Red Bull gave out on the lap from the pit to the grid, and to give misery some company, the Honda in Kevin Magnussen's McLaren blew up on the same lap. When the lights went out, Hamilton ran away and was more than a second ahead of his teammate at the end of Lap 1. The advantage disappeared, though, because behind him, at the first corner, we got our first pile-up. As Raikkonen drove around the outside of Vettel at the right-hand Turn 1 it looked like Vettel, going over the kerbing, hopped to his left and bounced into Raikkonen.