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U.S. Refusing to Pay for $750,000 Ferrari Wrecked by Joyriding F.B.I. Agent

May 26, 2011 by Brett Wilkins in US Government with 0 Comments

The U.S. Justice Department is refusing to pay $750,000 for a rare Ferrari that an FBI agent crashed while on a brief joyride in Kentucky. The vehicle, one of only 50 sold in the United States, was being held as evidence in a theft case when the accident occurred.

According to the Associated Press, the Ferrari F50, a 513 horsepower beast that goes 0-60 miles an hour (0-100 km/h) in 3.7 seconds and is capable of a top speed of 202 mph (325 km/h), was stolen from a dealer in Pennsylvania back in 2003. It was found five years later and has been kept by the FBI in Lexington, Kentucky as evidence ever since.

Two years ago, FBI agent Fred Kingston was given the enviable task of transporting the vehicle from a garage. Kingston invited Assistant US Attorney J. Hamilton Thompson for a joyride that ended in disaster.

“Just a few seconds after we left the parking lot, we went around a curve and the rear of the car began sliding,” Thompson wrote in an email. “The agent tried to regain control but the car fishtailed and slid sideways up onto the curb. The vehicle came to a rest against a row of bushes and a small tree.”

According to the Associated Press Agent Kingston needed a few stitches on his head. The Ferrari, on the other hand, needed a wrecking truck. Motors Insurance, which owned the vehicle after paying off the dealer for the theft, said the car was totaled. The company sued the government in March after the Justice Department refused to cough up the cash. The government, which claims it is not liable for certain goods when they are in its custody, has also been extremely reluctant to release information relating to the case.

“We don’t really know what happened,” Motors Insurance lawyer Richard Kraus told the Associated Press. “We’ve asked for a lot of information.”

Here’s a Ferrari F50 in action:

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