Former FNA President and CEO in trouble

Yes, that is the guy.

BTW, great pic of your dad with Piero. Would have loved to have heard that Ferrari chat !

Mike

 

Hi Mike - just so you know, F-chatter "Admiral Goodwrench" actually is Admiral Robert Phillips (former owner of the blue car); I am his son.

 

totally was.

 

A good question which implies others must have been involved.

 

https://www.justice.gov/usao-nj/pr/former-luxury-car-ceo-and-luxury-watch-dealer-admit-tax-charges-connection-scheme

Former Luxury Car CEO and Luxury Watch Dealer Admit Tax Charges in Connection with Scheme to Misallocate Limited Edition Sports Cars

https://www.businessinsider.com/former-ferrari-bugatti-exec-kickback-scheme-admits-maurizio-parlato-2020-9

 

Sorry for the double post.


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MP has a thing for glamorous, expensive ladies, google Maurizio Parlato wife, don't ask me how I know that path can be costly. In his case it might have been one of the motivating factors to cross the ethical line in the sand....

 

Yes, exactly.

 

Just an observation, in over 40 years of being a CPA, I have noticed a high number of those who commit fraud also cheat on their taxes. You'll notice he plead guilty to tax charges, not for taking kickbacks. He would not be facing prison time if he paid the IRS.

 

I think what he did vis a vis the car allocations was wrong and unethical, but probably not criminal, perhaps civil fraud at the worst? But yes, had he paid the tax he wouldn’t be packing his Louis Vuitton steamer trunk for Club Fed.....

 

Club Fed hahahah!

 

Those days are gone. The Fed system is overloaded with drug dealers.

 

my laf allocation got yanked in the 11th hour....

 

I was laughing in reference to the club med analogy, club med(iterranee) is a hugely successful holiday operator in Europe.

 

I featured this thread in newsletter but forgot to change the link title, so for those that came here from Sept Newsletter and may be confused- my apologies

 

such people are the reason the right collectors don't get their assigned cars. It is right that these crooks should be properly stopped.

 

Had the guy formed an LLC, worked legitimately as a consultant, and paid taxes on his fees, he’d likely not been prosecuted. Clearly, he was looking to avoid detection by using the means he did, so he should pay the price for his crimes...now, whether Ferrari should examine how his influence was used internally is another matter....Italian culture/ biz deal making seems to be a bit more accepting of these behaviors than US, so....


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Thank you Sir for sharing, I hadn't seen this. I'm not the least bit surprised; any dysfunctional process which is not transparent involving items of value will be exploited by people who think they're extremely smart.

What I find reassuring is that in almost all occasions the hubris of perpetrators eventually leads to their downfall.

 

Marcel,

Last I heard he was supposed to be sentenced on 1/21/2021 but I have not heard anything about it lately.

Best regards,

Robert

 

Set/Reset Hearings as to MAURIZIO PARLATO: Sentencing set for 3/23/2021 09:00 AM before Judge Stanley R. Chesler. (tt, )
Filed & Entered: 01/04/2021

 

I had a nice chat with Bobby Rahal (the Indy 500 winner, Indy/Cart/Champcar champion, team owner) during the Tour Auto 1999, at the Schlumpf museum of all places during the event cocktail party.

He said he had visited FNA in New Jersey and they gave him the grand tour not just meeting top management but also including the warehouses where he saw lots of new cars straight off the ship.

He stated he wanted one (I think a 550) and he was asked to wait a few minutes, there was some communication and then he was told he could have that one over there if it suited him. It did.

So someone got bumped. What else is new....