Alphons Iacobelli sold his 458 Spider days after prosecutors filed paperwork mentioning him in a massive money laundering scandal.
It would seem that former Fiat Chrysler Automobiles Labor-Relations Chief Alphons Iacobelli may have suspected he was in trouble back in 2015. The Detroit News reports the former auto executive sold his 2013 Ferrari 458 Spider just a few days after prosecutors filed papers that tied Iacobelli to a massive money laundering scheme. Dumped might actually be a better word, since he took a $73,000 hit from the purchase price after buying the car just over a year prior. Of course, it could all be just an innocent coincidence.
The Ferrari is perhaps the highest profile item-of-excess in what has become one of the biggest money scandals in the Detroit auto scene in recent memory. Iacobelli and Monica Morgan-Holiefield are at the center of the investigation, having been indicted in July on an alleged plot to funnel $1.2 million from the UAW-Chrysler National Training Center, which is a business for training blue-collar workers that belong to the union. Holiefield is the widow of former UAW VP General Holiefield, who died in 2015 and is also mentioned in the scandal.
Aside from the Ferrari, other lavish items purportedly purchased from the laundered cash include extensive first-class travel, private jets, significant home updates such as swimming pools, and a pair of solid gold ink pens that are said to have cost $37,500 each.
It’s been reported that prosecutors have put in the necessary paperwork to seize Iacobelli’s massive mansion should he be convicted. The FBI is continuing to investigate, though it’s unclear thus far what other assets could be seized.
In the case of the Ferrari, it's an item of interest to the FBI though it appears the buyer was completely in the dark about Iacobelli, at least at the time of purchase. That would mean the car is safe from being seized in the event of a conviction, but the owner is reportedly trading out of the car for a new Lamborghini anyway.
Source: The Detroit News