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11 exotic cars seized by Indian authorities for tax evasion

On Sunday, road transport officials in India intercepted a convoy of 15 supercars out for a drive in Hyderabad. By the time the traffic stop had ended, 11 of the luxury and sports cars had been seized. Cars involved included those made by Lamborghini, Ferrari, Porsche, Rolls Royce, and Maserati. According to The Times of India, the 11 confiscated vehicles were impounded on charges of tax evasion. In India, the so-called "life tax" applies to all motor vehicles, but each state levies their own rates. In Telangana state, where the 6.8 million-large city of Hyderabad is located, taxes are more expensive than other states. The seized cars – estimated by The Times to be worth between $500,000 and $1.3 million a piece – were registered in states where the life tax rates are cheaper, the article reports, while authorities say that the cars had been operating on Hyderabad's roads. Authorities had been following the cars on CCTV for six months prior to Sunday's traffic stop. In addition to the tax issues, some of the cars had outstanding traffic violations as well. "They have been living and playing in Hyderabad. We have enough evidence for it," said Papa Rao, the enforcement team leader who led the seizure. Rao had another message for those who might be bankrolling the drivers. "We are also requesting the parents of the youngsters to ensure that these youngsters do not speed." According to the news outlet, the drivers were between 25 and 35 years old. In recent years, there's been talk in India of creating a single, country-wide road tax. While the move will help reduce confusion for car buyers, one of the goals is also to close the loophole of paying taxes in states with lower rates. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Lamborghini Countach LPI 800-4 revealed

Texas man gets prison for buying Lamborghini with Covid funds

A Texas man who spent coronavirus relief funds to feel a little less bored during lockdown is staring down a nine-year prison term after pleading guilty to wire fraud and money laundering. Lee Price III finagled more than $1.6 million in low-interest relief loans, the Associated Press reports, which he spent to pay off a mortgage and buy a couple of cars: an $85,000 Ford F-350 and and Lamborghini Urus.  According to the Houston Chronicle, Price's scheme involved funneling a little under $1 million through each of two of his businesses (Price Enterprises Holdings and 713 Construction), both of which Price claimed had large payrolls that needed to be covered using emergency funds from the Paycheck Protection Program (PPP). While these were ostensibly loans, they were structured to be forgiven if the funds were distributed within 10 calendar days and the borrower applied for forgiveness within 10 months of taking the loan. Provided those criteria were met, it was essentially free money to cover payroll. Price's employees, however, did not exist.   You'll be forgiven for thinking you've heard this story before. Coronavirus really seemed to bring out the Lamborghini fans. A California man was accused of adding one to his garage (along with a Ferrari and Bentley) and plead not guilty earlier this year to charges that he scammed more than $5 million from the PPP. Last year, a Florida man's scheme to defraud the same program was undone by a hit-and-run accident in the blue Lamborghini Huracan Evo he bought with the proceeds. 

Lamborghini Huracan GT3 racer unveiled [w/video]

While Lamborghini doesn't quite have the motorsports history of Italian marques like Ferrari or Alfa Romeo, the bullish brand is no stranger to the track. The company's latest challenger for racing supremacy is the Huracan GT3, which is competing in the Blancpain Endurance Series in Europe this year. Where previous Lamborghini racers saw development from outside companies – like Reiter Engineering for the Gallardo GT3 – the company brought much of that work in-house for the Huracan. Although, the motorsports experts at Dallara did help craft the aerodynamics here. Unlike the production version, the GT3 is purely rear-wheel drive, and the engine remains a 5.2-liter V10. However, it's hooked to a six-speed sequential gearbox. All of the adjustments to go racing, allow the GT3 to tip the scales at 2,732 pounds, a healthy reduction over the already light, 3,135-pound dry weight of the regular Huracan and even around 80 pounds less than the Super Trofeo one-make racer. That said, due to the balance of performance in motorsports, the FIA might still adjust the final number for competition. Lamborghini's Squadra Corse team will be racing in these vibrant lime green Huracans in Blancpain, but if you want to compete against them, the price for the GT3 is set at 369,000 euros ($427,400) before taxes. The company's official press release only mentions European motorsports, but earlier rumors suggest the brand might also offer the car to squads in the United SportsCar Championship. So, we might see them on track here in the future. The clip below gives a glimpse of what Lambo's latest racer can do in race trim. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. WORLD PREMIERE OF LAMBORGHINI HURACAN GT3 BY AUTOMOBILI LAMBORGHINI Sant'Agata Bolognese, 21 January 2015. Automobili Lamborghini has presented the new Lamborghini Huracan GT3, in a world premiere at its headquarters in Sant'Agata Bolognese. The unveiling ceremony was carried out in the presence of media, customers and partners from around the world. The GT3 competitor makes its debut following that of the new Huracan LP 620-2 Super Trofeo, which will be the protagonist of the Lamborghini Blancpain Super Trofeo in Europe, Asia and North America from this year. Starting in 2015, the Huracan GT3 will line up in the Blancpain Endurance Series that runs over five venues in Europe, among which is included the famous Spa-Francorchamps 24-hours race.