No buyer for narco Ferrari, so cops put it on show

AP News
Posted: Nov 10, 2011 5:59 PM
No buyer for narco Ferrari, so cops put it on show

What to do with a black, $250,000 Ferrari seized from a Colombian drug trafficker for which a buyer couldn't be found?

Paint it green-and-white. Those are the colors of Colombia's national police, which put the shiny muscle car on show Thursday. It will tour the country before residing in a police museum.

The 300-horsepower 1991 Ferrari was seized in 2007 from Hernando Gomez Bustamante, alias "Rasguno," or "Scratchy," who is now imprisoned in the United States after pleading guilty to drug trafficking and other crimes committed as a top member of the Norte del Valle cartel.

The car had been in possession of the National Drug Office, which was responsible for disposing of seized assets but was shut down in September. Too many seized assets were disappearing without explanation.

The agency's last director, Juan Carlos Restrepo, told The Associated Press he believes it couldn't sell the Ferrari because buyers feared that Bustamante's family might come looking for it and drug office staff feared that if it fetched a low price at an auction they could be accused of selling the state short, a crime.

Even though it's 20 years old, the car is actually new, the police said in a statement that values it at $250,000.

"It only has 1,200 miles (2,000 kilometers) on it," the statement said.