French man bought $250K Ferrari Portofino from $2.1M collected in social aid, exposed in speed stop

When it comes to supercars, owning one is a dream for everyone. However, while some spend years earning money to buy their dream car, others opt for smart yet risky methods. Case in point is a man who was stopped by French police in the Vaucluse region for speeding in his bright red Ferrari Portofino at nearly 250 km/h.

When the officials interrogated the seemingly rich man in a well-dressed attire, they were shocked to know that he had no job, no assets, and no income.

The sports car worth $250,000 was being driven by a homeless person and a quick check revealed that the man had been claiming welfare benefits for years, thus making him a fortune worth millions, one that helped him afford the luxurious automobile along with a splurging lifestyle.

The luxury of homelessness

When prodded about the owner of the car, the man revealed it to be his mother. However, records revealed that it has been registered by a real estate company managed by the suspect, his mother, and his two siblings.

Further investigation shockingly revealed to the officials a scheme to syphon off funds from the French state and evade taxes by not declaring any revenue.

The driver and his family lived a lavish and luxurious lifestyle indulging in expensive shopping sprees and trips to upscale destinations. However, on paper, they had declared themselves unemployed and insolvent, meaning that they benefited from financial assistance from the CAF (French family allowance fund).

They earned a considerable amount of money from their real estate business and other ventures but had never declared or taxed them.

In total, the family allegedly embezzled no less than $2.1 million in social benefits and $1.9 million in undeclared income. They were arrested following a series of raids in multiple locations and are set to be tried by the court in Draguignan for "undeclared work, aggravated money laundering, misuse of company assets and fraud."