Federal prosecutors have already seized $292,000 from an allegedly fake hospice that was involved in laundering money for the Holiefields. Former FCA executive Alphons Iacobelli and Monica Morgan-Holiefield, widow of late UAW Vice President General Holiefield, are at the center of the investigation.
According to The Detroit News, recent developments link the dirty money to a Rosso Corsa red 2013 Ferrari 458 Spider purchased by Iacobelli back in 2015. The Italian convertible once wore a “IACOBLI” vanity plate though it was removed in late September 2015, when Iacobelli sold the car for $73,000 less than what he had paid for it a year earlier. The sale occurred six days after prosecutors notified Iacobelli of his involvement in a fraud and money laundering investigation.
The Ferrari 458 is the most expensive item Iacobelli is accused of buying, and this observation could explain why the Ferrari hasn’t been seized. It is currently unknown whether or not the FBI seized cash or other assets from Iacobelli equal to the purchase price of the Ferrari, which was $365,482.
Iacobelli may also lose his 6,815-foot mansion, as prosecutors have argued that the home is tied to fraud and money laundering. In addition to the Ferrari, two gold fountain pens were also purchased with an estimated value of $36,000 each. With no paper trail, purchases like these are harder to connect in court.
The current owner of the Ferrari, 45-year-old Brian Mortz, has an innocent owner defense which would allow him to keep the car despite its involvement in the investigation as long as he is able to prove it was a legitimate transaction. Martz has stated that he intends to trade the 458 in on a Metallic Gray Lamborghini Aventador.
That’s about all of the new information we have at this time. We’ll be sure to keep our readers posted on the UAW-Chrysler fraud investigation as details continue to emerge.