2004 Ferrari 360 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 auctioning one-off LaFerrari for Italian earthquake relief

Ferrari is about as Italian as Italian gets, so it's no surprise that the company is launching an initiative to help the victims of this year's two major central Italian earthquakes. And it involves a LaFerrari. Ferrari, RM Sotheby's, and the National Italian American Foundation's Earthquake Relief Fund are partnering up to auction off a one-off LaFerrari from the company's own collection at the upcoming Finali Mondiali on December 3. All proceeds from the auction will go to the reconstruction efforts in central Italy following August's magnitude 6.2 quake and the string of quakes that hit late last month. If you're heading to the Daytona International Speedway for Finali Mondiali and have seven-figure's worth of cash burning a hole in your finely lined pockets, it's worth mentioning what you could bid on. The LaFerrari in question wears the company's traditional Rosso Corsa, but sports white accents down its body and an Italian tricolor on its nose. Ferrari says bespoke interior stylings complement the one-of-a-kind exterior treatment. The special LaFerrari will cross the block at RM Sotheby's on December 3. Related Video:

Pranked angry Ferrari owner says urine trouble now, man!

A good rule to live by is that you should never mess with another man's car, but Roman Atwood learned that you probably shouldn't even pretend with another man's ride... especially when it's a Ferrari 360 Modena. The internet prankster was trying to perform a little handicap parking spot justice by acting as if he were urinating on an Italian supercar that he felt was illegally parked.
Needless to say, the owner of the car was not amused by Atwood's antics, proceeding to shove him, shout obscenities and even yell, "I could buy your whole family." Both men seem like real class acts. Check out the prank-gone-wrong below.