Tuesday, February 2, 2010

Durham Lists Bugatti for Sale on Ebay for $1,225,000

Gary Welsh of Advance Indiana reports that it appears that Tim Durham might be trying to sell his million dollar 2008 Bugatti Veyron Veyron 16.4 on E-bay:
A source claims this 2008 Bugatti listed for sale on E-Bay for $1,225,000 belongs to Indianapolis businessman Timothy Durham. Click here to see a WISH-TV interview with Durham when he received delivery of the car. The U.S. Attorney's Office in Indianapolis originally filed a civil forfeiture action against Durham's assets but dropped the action days later without explanation. Recently, a yacht owned or once owned by Durham showed up in Turkey listed for sale at $4.78 million. A source tells me that Durham stated during a court-ordered civil mediation hearing in Grand Rapids, Michigan last week in another lawsuit against one of his companies that he could not transfer any assets without the prior approval of Winfield Ong, the Assistant U.S. Attorney who filed the original civil forfeiture action.
In fact, if you click on one of the "History Report" tab on the Ebay listing you will see that the Vehicle Identification Number of the Bugatti is VF9SA25C18M795080. In the forfeiture action filed by acting U.S. Attorney Timothy Morrison and then suddenly and inexpicably dismissed, the Complaint lists the VIN number of the Bugatti owned by Durham. The numbers of the Ebay Bugatti and Durham's Bugatti listed in the forfeiture complaint match exactly.

This continues the pattern of Durham and Durham associate assets showing up to be auctioned off for cold, hard cash.

7 comments:

Diana Vice said...

Wow, I think the fact that the U.S. Attorney withdrew the forfeiture needs to be investigated.

Downtown Indy said...

But he leased it. There was one news report that he was paying $20,000/mo for the lease. He didn't own it, so he can't be selling it.

Well, this is Durham we're talking about, so he may have the chutzpah to try it anyway.

Paul K. Ogden said...

DI,

I didn't see where he leased it. I didn't see that in the Channel 8 report at all. There was not even the hint that he was only leasing. I assume there is another news report out there talking about it being leased or I somehow missed it in the WISH report.

Downtown Indy said...

I found one of the stories on it:

NY Times

I guess he could have purchased it afterwards, but I don't see him doing that. He wasn't one for negative cash flows.

Bill said...

Paul it was leased, several stations reported that. The car is currently in LA. He does own the boat in Turkey currently.All but a few of his cars were leased. The Viper that Brizzi wrecked last summer was a lease

Advance Indiana said...

I'm not convinced, Paul, that Durham didn't pay cash for that car. Who is going to lease you a million-dollar car to race? Was he simply claiming it was leased in order to explain the nonpayment of sales tax on the purchase? I understand that might be an issue with a number of his car purchases. Not sure why our Department of Revenue doesn't get off its butt and check into it. It's not like whistleblowers have not contacted the DOR repeatedly raising this issue.

HOOSIERS FOR FAIR TAX said...

Q: You know what they say about guys who drive Vipers?

A: They are compensating for inadequacy