Luis Hernando Gomez Bustamante was extradited to the United States in 2007 on charges of money laundering, drug smuggling and many more. The Ferrari 348 TS was seized by the Colombianís National Drug Office (DNE) and they are in charge for all matters regarding Bustamanteís seized assets.
The DNE department has tried selling the Ferrari off but no one made an offer for it. At the same time, the DNE department was shut down in September due to some seized assets mysteriously went missing without any explanation. The 300bhp V8 Ferrari 348 TS (with only 12,000 miles driven) was valued at US$250,000 by Colombian authorities which was a far cry from the marketís value. But the DNE believes that there are some reasons, other than the price, why nobody wants to buy it.
The DNEís last director, Juan Carlos Restrepo, believes that the main reasons the department couldnít sell the Ferrari is because that potential buyers feared that Bustamanteís family might come looking for it. And also, the department feared that if it fetched a low price at an auction, the department could be accused of selling the State short.
In the end, the national police force decided to turn it into a police car. The 348 TS was painted in green and white, the Colombian police forceís national colours. They plan to display the car at auto shows and tour the country in it, before showcasing it at the national policeís museum.
Photo credit: GT Spirit