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Singapore car salesman jailed for gambling away $280k Maserati deposit

Kenny Rogers' country classic The Gambler is right about two things: you gotta know when to hold'em and know when to fold'em. A former Maserati salesman in Singapore is learning that lesson about when to step away from the table, after being sentenced to 33 months in prison for allegedly gambling away a customer's deposit of 350,000 Singapore dollars ($280,800).
According to Asia One, Allan Tan Buan Yuen was selling a Maserati in 2011. He told the customer that the car would take six months to arrive and cost 650,000 Singapore dollars ($522,000). While that may sound high, cars in the Asian country are notoriously expensive.
Yuen asked for a deposit of 150,000 Singapore dollars ($120,400), but instead of handing the money to the dealer, he placed the funds in his own account. Apparently, the customer didn't notice, and over the next few months Yuen received an additional 200,000 Singapore dollars ($160,400) towards the car from him. Clearly, this ruse couldn't last forever, though. When the buyer eventually inquired about his Maserati months later, Yuen admitted that he had already gambled away the entire fortune.

Maserati teases MC20 Cielo debut for May 25

A while back, Maserati's product roadmap penciled in an MC20 Spider to hit the market this year. In December 2021, the Modena automaker teased frontal views of the droptop supercar wearing camouflage full of fluffy clouds. In a series of Instagram posts over the last week, Maserati posted photos from the point of view of someone with an uninterrupted view skyward — the same kind of view one would experience in a convertible, say. One of the captions was, "You will admire the sky in a new way on Wednesday 25 May." That will be the reveal date for what the automaker is now calling the Maserati MC20 Cielo, with that last word being Italian for "sky." This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Since we got no views of the rear of the camouflaged car, we have no idea what design changes we'll see in a little more than a week. Looking closely at the photos of the camouflaged prototype, it's clear there's are temporary panels between behind the B-pillar all the way to the decklid spoiler. An odd feature on the prototype is a trio of ribs running from the A-pillar to the rear of the car, with the middle protrusion looking like a papered-over roof scoop. That seems like a lot of work to hide a form we're already familiar with, and a convertible mechanism we don't expect to hold any surprises, so we'll see what we see on May 25. Maserati's usual Spider formula hasn't traditionally altered a car's underpinnings, so the same carbon fiber monocoque should come bolted to the same 3.0-liter twin-turbocharged V6 making 621 horsepower and 538 pound-feet of torque. The skylight does traditionally jack up the price, so expect to pay more than the coupe's $210,000 MSRP. We figure the model will arrive in showrooms late this year at the earliest, an appearance in the U.S. likely in 2023. After this, we know there's an even more powerful electric version on the way that will be the flagship of the range. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Maserati MC20 supercar plays in the snow

Marchionne says no offers are on the table for Fiat Chrysler

MONZA, Italy (Reuters) - Fiat Chrysler (FCA) has not received any offer for the company nor is the world's seventh-largest carmaker working on any "big deal", Chief Executive Sergio Marchionne said on Saturday. Speaking on the sidelines of the Italian Formula One Grand Prix, Marchionne said the focus remained on executing the company's business plan to 2018. Asked whether FCA had been approached by someone or whether there was an offer on the table, he simply said: "No." The company's share price jumped to record highs last month after reports of interest for the group or some of its brands from China. China's Great Wall Motor Co Ltd openly said it was interested in FCA, but had not held talks or signed a deal with executives at the Italian-American automaker. The stock move was also helped by expectations that the company might separate from some of its units. Marchionne reiterated on Saturday that FCA was working on a plan to "purify" its portfolio and that units, such as the components businesses, would be separated from the group. He hopes to complete that process by the end of 2018. "There are activities within the group that do not belong to a car manufacturer, for example the components businesses. The group needs to be cleared of those things," he told journalists. Asked whether an announcement could come this year, Marchionne said it was up to the board to decide and that it would next meet at the end of September. He said the time was not right for a spin-off of luxury brand Maserati and premium Alfa Romeo and the two brands needed to become self-sustainable entities first and "have the muscle to stand on their feet, make sufficient cash". "The way we see it now, it's almost impossible, if not impossible, to see a spin-off of Alfa Romeo/Maserati, these are two entities that are immature and in a development phase," he said. "It's the wrong moment, we are not in a condition to do it." He said the concept of separating the two brands from FCA's mass market business made sense and did not rule out this happening in future, but not under his tenure, which lasts until April 2019. "If there is an opportunity in future, it would certainly happen after I'm gone. It won't happen while Marchionne is around," he said.