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0373 for sale, what do you think of its current state?

Discussion in 'Vintage Ferrari Market' started by bigodino, Mar 30, 2011.

  1. Bullfighter

    Bullfighter Two Time F1 World Champ
    Owner Lifetime Rossa

    Jan 26, 2005
    20,691
    Fullerton, California
    Full Name:
    Jon
    I agree, I think it lost some of its character.

    The question I would have, as a non-expert on these cars, is whether by 1993 this should already have been recognized as an historically important, valuable car and maintained accordingly.
     
  2. amenasce

    amenasce Two Time F1 World Champ
    Silver Subscribed

    Oct 17, 2001
    27,183
    Paris / Chicago
    Full Name:
    Andrew Menasce
    So it's MM eligible??
     
  3. On Thermonuclear War

    Jan 7, 2018
    12
    Full Name:
    Andrew DeSalvo
    "In 1993, s/n 0373 GT underwent an extensive build/restoration by Terry Myr in Smiths Creek, Michigan and Kleeves Company in Kimball, Michigan for vintage racing and rally events. For the project, Ferrari 250 GTE S/N 3593 was purchased and the engine and differential were installed into 0373 GT."

    FURTHER READING

    Tax-cheating Ferrari mechanic gets 2 years in prison
    Tresa Baldas, Detroit Free Press Published 9:49 p.m. ET Oct. 29, 2015 | Updated 9:01 p.m. ET Oct. 30, 2015
    skd284429sdc
    https://www.freep.com/story/news/local/michigan/2015/10/29/tax-cheating-ferrari-mechanic-gets-2-years-prison/74825082/
    A 71-year-old Ferrari mechanic is headed to prison for two years for cheating on his taxes by hiding his true income and assets, including a rare engine he sold for $610,000 to a woman in Belgium.
    Terry Myr of Smiths Creek in St. Clair County, who often had his clients pay him cash or with debit cards, was sentenced today by U.S. District Judge Nancy Edmunds, who also ordered him to pay $195,000 in back taxes.
    Myr, a self-employed mechanic who specialized in repairing classic and exotic foreign cars, was convicted in April by a jury on one count of attempted tax evasion and four counts of failure to file tax returns.
    According to the the U.S. Attorney's Office in Detroit, Myr owed roughly $195,000 in taxes, interest and penalties for failing to report all of his income between 2000 and 2003. To avoid paying taxes, the IRS said, he transferred property that he owned to a third party, used nominee companies to conceal his income and assets and otherwise dealt in cash.
    According to the indictment, in 2007, Myr and his wife tried to transfer nine acres of property in exchange for 10 ounces of gold. His wife was not charged.
    St. Clair County man fixed rare cars, didn't pay taxes
    Red flags went up when an audit revealed that a Belgian woman wired Myr $610,000 for a rare Ferrari engine he sold her, but that money was never reported on any taxes. Myr used some of the Ferrari engine proceeds to purchase more than $360,000 in gold and silver coins, prosecutors said.
    Myr also tried to get around paying his taxes by asking his customers to pay him in cash, money orders, or prepaid debit cards, authorities said. According to evidence presented at trial, Myr had not filed a tax return or paid federal income taxes since 2001, costing nearly $739,000 in tax losses to the government.
    Myr's defense was that he never intended to deceive the IRS, and that he acted in good faith, according to court documents,. His lawyer, Penny Beardslee, was not readily available for comment.
     
  4. On Thermonuclear War

    Jan 7, 2018
    12
    Full Name:
    Andrew DeSalvo
    FURTHER READING

    U.S. v. MYR
    Case No. 14-20633.
    UNITED STATES OF AMERICA, Plaintiff, v. TERRY A. MYR, Defendant.
    United States District Court, E.D. Michigan, Southern Division.

    August 26, 2015.

    Attorney(s) appearing for the Case
    Terry Myr, Defendant, represented by Lowell H. Becraft, Jr. .

    United States of America, Plaintiff, represented by Tiwana L Wright , Department of Justice, Kenneth C. Vert , Department of Justice & Ross I. MacKenzie , U.S. Attorney's Office.

    OPINION AND ORDER DENYING DEFENDANT'S MOTION FOR NEW TRIAL [35]

    NANCY G. EDMUNDS, District Judge.

    On April 29, 2015, following a jury trial that began on April 22, 2015, Defendant Terry Myr ("Defendant") was found guilty of tax evasion pursuant to 26 U.S.C. § 7201 (Count 1). In addition, Defendant was convicted of willful failure to file pursuant to 26 U.S.C. § 7203 for each year 2007 through 2010. (Counts 2 through 5 respectively).

    Currently before the Court is Defendant's motion seeking a new trial under Federal Rule of Criminal Procedure 33.1 Specifically, Defendant argues that the Court should have admitted at trial a civil complaint filed by the Department of Justice seeking a permanent injunction against the business and individual who prepared a tax return that was evidence in the trial.

    For the reasons stated more fully below and on the April 27, 2015 trial record, the Court denies Defendant's motion.

    I. Background

    Defendant is a self-employed automotive mechanic who specializes in exotic foreign cars. From approximately 1998 though 2001, Defendant filed individual tax returns. The IRS audited his 2000 and 2001 returns. Defendant directed a certified public accountant to prepare his 2002 and 2003 individual income tax returns, but did not file these returns. In November 2005, the IRS assessed Defendant approximately $195,163 in taxes, interest and penalties for years 2000 through 2003. Defendant neither paid nor filed another federal income tax return. In May 2007 the IRS issued a Notice of Federal Tax Lien against Defendant's property.

    During 2009, Defendant negotiated to sell a rare 1954 Ferrari race car engine for $610,000. Defendant established a corporation called On Track Group, Inc. The engine purchaser wired the funds to On Track Group, Inc.'s bank account. The following year, Defendant filed a 2009 tax return for On Track Group, Inc., which reported only $500,000 in gross receipts, falsely claimed expenses in the amount of $150,000 for employee salaries, falsely claimed a "bad debt" in the amount of $330,174, and reported a loss in the amount of $10,520. The tax preparer was Dr. Denise Miller with Uneek Business Solutions. Although it was not a basis for a charge, this tax return was evidence at trial. Defendant testified that he signed and filed the return without reading it.
     
  5. On Thermonuclear War

    Jan 7, 2018
    12
    Full Name:
    Andrew DeSalvo
    FURTHER READING

    NOT RECOMMENDED FOR FULL-TEXT PUBLICATION
    File Name: 16a0574n.06

    Case No. 15-2410

    UNITED STATES COURT OF APPEALS
    FOR THE SIXTH CIRCUIT
    UNITED STATES OF AMERICA,

    Plaintiff-Appellee,
    v.
    TERRY MYR,
    Defendant-Appellant.
    )
    ON APPEAL FROM THE
    UNITED STATES DISTRICT
    COURT FOR THE EASTERN
    DISTRICT OF MICHIGAN

    O P I N I O N

    BEFORE: KEITH, McKEAGUE, and WHITE, Circuit Judges.

    DAVID W. McKEAGUE, Circuit Judge. Terry Myr, a self-employed auto mechanic
    with a professed interest in tax-protester theories, was convicted of one count of tax evasion, 26
    U.S.C. § 7201, and four counts of willful failure to file individual income tax returns, 26 U.S.C.
    § 7203. Myr claims that the district court abused its discretion and violated his constitutional
    rights by excluding from evidence a civil complaint in an unrelated case in which the
    government accused a tax preparer Myr used of falsifying the returns of other customers. He
    also claims that the court improperly instructed the jury on the meaning of “proof beyond a
    reasonable doubt.” We AFFIRM.
     

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