Feds in LA seize upscale cars bound for Asia

STEP UP??? Really??? I was going to guess Vik whatever his name is.

there is a 200% import tax in many Asian countries--hence why the cars were labeled "used excercise equipment and printer cartridges".

 

 

So, JUST because there is HIGH taxes to the importing areas..it is OK, to CHEAT and LIE and do wrong to export the product under false statements to make more money...NOPE just plain GREED..

So, JUST because there is HIGH taxes to the importing areas..it is OK, to CHEAT and LIE and do wrong to export the product under false statements to make more money...NOPE just plain GREED..

 

Roy, I don't think he made excuses and tried to justify it, he just explained why some people do it.

So if this shipment arrived, would the new owners ('wealthy' Asians) know that the BMW 5 they now own was stolen or how are they sold to them? Or were these cars meant for the criminals themselves?

So if this shipment arrived, would the new owners ('wealthy' Asians) know that the BMW 5 they now own was stolen or how are they sold to them? Or were these cars meant for the criminals themselves?

 

The experience of this I have encountered is that they are sold onto trader floors, think traders like Roy, not official but hold and sell significant stock.

 

Wealthy Asian walks into dealer sees the car at slightly lower price than the official dealer and snaps it up. Dealer makes a bit of profit and some are unaware of the source of the stock, but the dealer passes the money to the importer who then makes the huge chunk of money.

Big issue in mainland Europe whereby there is no fraud with a dealer but the car is stolen by breaking into the owners house and getting keys etc and then the car is shipped across to Eastern Europe with a new identity - often with the identity of a car that is already in Eastern Europe and is genuine so never gets flagged as stolen.

Not so much of an issue in RHD markets.

Big issue in mainland Europe whereby there is no fraud with a dealer but the car is stolen by breaking into the owners house and getting keys etc and then the car is shipped across to Eastern Europe with a new identity - often with the identity of a car that is already in Eastern Europe and is genuine so never gets flagged as stolen.

Not so much of an issue in RHD markets.

 

There used to be a lot more creative ways to claim insurance money for cars exported to eastern Europe, and many times it involved the actual owner of the car, they weren't really stolen but were reported as such. I remember in the late 90's early '00 more than half of luxury cars here had some sort of legal ownership problems attached to them, you had to be very careful when buying one. But they couldn't be confiscated and returned because the buyer was considered to have purchased the car in good faith and was allowed to legally keep the car. He couldnt export it or leave the country with it because the car would be flagged as stolen in the EU but here, there was nothing anyone could do about it.

So how does the 200% import tax help the country that charges this? Wouldn't many more exotics come in at say a 25% tax so the effective gross tax revenue would drastically increase? What am I missing?

So how does the 200% import tax help the country that charges this? Wouldn't many more exotics come in at say a 25% tax so the effective gross tax revenue would drastically increase? What am I missing?

they don't want the exotics in, but if you really wanna bring it in they will let you for a very high price.

So how does the 200% import tax help the country that charges this? Wouldn't many more exotics come in at say a 25% tax so the effective gross tax revenue would drastically increase? What am I missing?

 

The point of import tax is to LIMIT imports and PROMOTE local manufacturing. Plus its another way to tax the rich, cause the more money you have the more your taste for exotic goods.

Any ideas how many exotics they "reported" stolen?

FINALY sold Jason a COUNTACH!! I could not to the one he wanted..but we got him this one..thanks for your business.

 

Enjoy the car!!

I'm so confused. What member is in trouble!?!?

I dont see a member with a name "STEP UP"

 

I would like the cliff notes please..

 

 

I dont see a member with a name "STEP UP"

 

I would like the cliff notes please..

 

http://www.lambopower.com/forum/index.php?showtopic=51305

Step up too much and you'll get lopped off.

Step up too much and you'll get lopped off.

 

STEP UP GOT STOMPED ON

Ahhh yes, I found the thread also.

 

Looks like the board had him clocked in late 2010. Hes a first class fraud. Im glad I didnt go through with purchasing his orange murci.

 

Has anyone heard from him lately? Sucks the Feds took so long to catch up with his scam.

 

Has the news caught on yet?

Was he behind the whole operation??

Ahhh yes, I found the thread also.

 

Looks like the board had him clocked in late 2010. Hes a first class fraud. Im glad I didnt go through with purchasing his orange murci.

 

Has anyone heard from him lately? Sucks the Feds took so long to catch up with his scam.

 

Has the news caught on yet?

 

We don't know who, or begin to make any accusations on who is responsible for the fraud. Time will tell though.

 

 

Whoa... This is Chris we're talking about? wow.

Sounds like a buying opportunity now for those in market.

Sounds like a buying opportunity now for those in market.

 

 

It would seem to me that legally the cars belong to the insurance companies who paid on them. I wonder how fucked up the titles are at this point? One previous owner. Plus Stolen. Knocks what? about 10-20% off the top? but other than that they should be able to get top dollar for them? Theyre not damaged, no miles, etc... Theyve just been in a shipping container?

 

The original sellers got paid right? (or did they get scammed to? That wasnt real clear).

Roy, I don't think he made excuses and tried to justify it, he just explained why some people do it.

 

 

Thanks Hostrup--exactly my intent. I was just giving a little insight into how high the tax was and why there was the motivation to commit the crime in the first place. Certainly not condoning it.

Rutro! Someting Wong!