Hyderabad: A Ferrari worth several crores is caught in an ownership imbroglio in the city, with two sides staking a claim to the costly sports car.
The unsavoury episode began when two persons, identified as Bhupendar and Raghuram, reached Karkhana here a few days ago and tried to make away with the car, a 2012-model Ferrari 458, from the house of B Gandhi, a resident of Karkhana and who currently has the car with him.
According to the Karkhana police, who have arrested three persons on charges of cheating Gandhi, the duo – Bhupendar and Raghuram – were from Delhi and were sent to the city by one Syed Bilal Ahmed, a native of Bidar.
The registration documents of the vehicle show Bilal as the owner, with Bilal reportedly having purchased the vehicle from a person in Kerala through one broker Sharma, who is also from Delhi.
Gandhi, a city-based businessman, says he also had purchased the car by paying around Rs 1.5 crore to one person called Jessie, a native of Kerala last year, and had brought the vehicle to the city.
“For transfer of ownership, Jessie said he had given the RC documents to Sharma, who in turn says that he handed over the documents to another dealer Prince Taher for getting the job done,” said P Madhukar Swamy, SHO, Karkhana.
Ten days ago, Raghuram and Bhupendar came to the city from Bidar and went to Gandhi’s house when he was not there and tried to take it away saying Gandhi had sent them to repair the vehicle, Swamy said.
Police suspect that though the registration documents says Bilal is the owner, other documents could have been forged to get the registration done in the name of Bilal.
“We have arrested Sharma along with Bhupendar and Raghuram,” Swamy said, adding that efforts to nab Taher and Bilal too.
Police suspect a major cheating racket behind the incident. A brand new Ferrari 458 could cost over Rs 5 crore, with the Karkhana one sold for Rs 1.5 crore since it was a 2012 model, police said.
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