This story recently appeared in my local paper.

You can read it for yourself here https://www.edp24.co.uk/business/bo...ferrari-to-help-raise-money-for-nhs-1-6644036

Basically this guy 6 weeks ago bought a Ferrari 458 Spider (2013MY) and was offering it as a raffle prize to anyone who "donated" £8 to his Go fund me page, With a goal of raising £458,000 for charity.

The car was said to be worth £180,000 and the winner would get the car and £2000 cash.

All sounds good but....

Today (just one day after launching the competition he withdrew it.

https://www.edp24.co.uk/business/ju...draws-raffle-of-ferrari-for-charity-1-6645631

It seems due to "negative feedback" on social media he had decided to discontinue the competition.

Now most of the information has disappeared now from Facebook and other places where he was running the competition, but can you work out what the scam/con here was.

By the time he had closed the competition he had raise just over £800 so at least 100 people had chipped in the cash, but they will now all apparently be refunded....

So what was this guy up to? I have my theories, what's yours?

Maybe it's me being thick but was the winner actually getting the car or not? I've read the thing twice and couldn't understand it!

I've just got it now. He was using some of the money to pay off the car.

Has he got the car on PCP so it's not his to give away?

OR he's embezzled the money from himself to buy it and the lockdown has put him up the creek!

Never trust a property developer!

Paddynabs said:

Maybe it's me being thick but was the winner actually getting the car or not? I've read the thing twice and couldn't understand it!

I've just got it now. He was using some of the money to pay off the car.

Has he got the car on PCP so it's not his to give away?

OR he's embezzled the money from himself to buy it and the lockdown has put him up the creek!

Never trust a property developer!

Click to expand...

That or money was originally from less than legal sources

chris3234 said:

That or money was originally from less than legal sources

Click to expand...

The gist of the competition was that the “profits” would be donated to charity. Meaning they would be taking the value of the car out of anything they raised, and of course any expenses like all the Facebook and Instagram adds they were paying to run, and probably some “reasonable” expenses for running the competition, people doing admin etc. But then also it’s a young guy who has bought a very expensive car and he makes his money out of property development.... no one is buying houses at the moment and seeing as he only bought the car 6 weeks ago to me it looks like he is trying to get his money back in such a way he doesn’t lose a penny and he can then use that money to survive during the coming down turn.

The conditions on the competition (which all disappeared) said if the full amount £458k was not reached then the car would not be given away and the winner would get a driving experience. Literally the whole thing seemed like a set up to pay off his extravagant purchase that he made just at the wrong time.