Taiwanese Man Accused of Defrauding US Dealership with Fake Ferrari Sales

Authorities seize luxury assets after alleged $9.35 million scam involving limited-edition supercars.

A man identified as Chen Kent (陳肯特) has been indicted in Taiwan for allegedly defrauding a United States car dealership out of $9.35 million USD, equivalent to over NT$290 million. Prosecutors allege that Chen Kent fabricated documents from reputable law firms to falsely claim ownership of two limited-edition Ferrari supercars, specifically the Ferrari FXX-K Evo, and used this pretense to swindle the American buyer.

The investigation, led by the Taichung City Investigation Bureau under the direction of the Taichung District Prosecutors Office, revealed that Chen Kent, whose real name is Chen Tsung-chieh (陳宗傑), instructed his company's CFO, Chen Chih-yi (陳智義), to forge legal opinion letters from Taiwan's Formosan Van Law Firm and Japan's Ugajin International Law Office. These falsified documents were used to support the fraudulent sale of the highly sought-after Ferrari FXX-K Evo models, which are reportedly limited to only 40 units globally and boast an impressive 1050 horsepower.

The American car dealership, eager to acquire these exclusive vehicles, transferred the substantial sum to bank accounts in Singapore and Hong Kong designated by Chen Kent. However, after a prolonged wait without receiving the cars, the dealership contacted the named law firms, only to discover the deception. This led them to file a complaint with the Taichung City Investigation Bureau in Taiwan.

During searches and interrogations on June 11, 2025, authorities seized several luxury items from Chen Kent and Chen Chih-yi's residences and offices. These included a Porsche Cayenne GTS valued at approximately NT$7 million, a BMW 740Li worth over NT$5 million, a Tesla Model 3 priced at over NT$1 million, two Patek Philippe watches starting from NT$700,000 to NT$800,000, and three Hermès Birkin bags.

Further investigation uncovered that Chen Kent had allegedly been operating an online gambling platform since 2023, accumulating over NT$40 million in valid betting amounts annually. He is also accused of using third-party payment systems and cryptocurrencies to launder these illicit funds.

Authorities noted that Chen Kent, who reportedly holds dual citizenship and was once a "Ferrari team race driver," possessed extensive knowledge of international luxury car markets and vehicle appraisal. He cultivated an image of wealth and exclusivity through social media, often displaying his supercars, dining at high-end restaurants, and traveling internationally, which investigators believe contributed to the American buyer's trust.

In addition to the seized vehicles, watches, and handbags, investigators also impounded luxury residences in Taichung owned by Chen Kent, as well as properties held under borrowed names. Multiple bank accounts belonging to Chen Kent were frozen, along with funds in a third party's account.

Prosecutors have charged both Chen Kent and Chen Chih-yi with fraud and money laundering. Chen Kent remains in custody, while Chen Chih-yi was released on bail of NT$300,000 during the investigation.