TAIPEI - The Taipei District Prosecutors Office dropped a case involving a Ferrari whose owner claimed his vehicle broke down less than one lap into a race in last year's GT Asia Series.
Fan Fang-jhang, vice president of Tung Great Enterprises Co., allegedly spent NT$12 million (S$522,517) on a Ferrari 458 Challenge.
The vehicle was purchased from Zhou Jhe-nan, the head of Top Speed Super Car Group and the organizer of Taiwan's team that participated in the 2014 GT Asia Series.
Fang said because the car's transmission broke down, he had to opt out in the middle of the race. The transmission alone would cost more than NT$1 million, he said.
Although Fang signed up to race in the 2014 GT Asia Series, because his car had not arrived, he was unable to compete in South Korea.
His vehicle arrived in time to let him participate in the season's second stop in July in Japan. But the transmission problem prevented him from finishing the race.
As a result, Fang suspected the used Ferrari he bought had defects. The car currently sits in Malaysia. He accused the seller Zhou, who also failed to issue invoices, of fraud and breach of trust.
According to Wang Shun-jheng, the general manager of Top Speed Super Car Group, the dispute arose because Fang had not paid off the NT$3 million balance.
The court said although no invoices were issued by Zhou, transaction details were provided to Fang before the race.
Since Fang had agreed to the terms, the judge decided to drop the case.