A British national, manager of a mobile telephony company in Romania has been held of questioning by the Romanian Police from the Car Theft division. His name has not been made public. The Brit is suspected to have sold his Porsche in the Middle East and then declared it stolen in Romania to cash in the insurance.

The Car Theft division of the Romanian Police and prosecutors have searched several homes in Bucharest and nearby counties, searching for evidence on alleged fraud against insurance companies. The suspects have allegedly sold luxury cars in Middle East countries and declared them stolen in Romania to cash in the insurance.

Luxury car sales in Romania have exceeded the expectations of sellers, despite the tough economic times. For example, Forza Rossa has already sold its quota for this year, 30 Ferrari cars, and has started to sell from its 2012 quota.

In a city where parking spaces are scarce, there are 20,000 luxury cars, wrote Romanian daily Gandul in an article earlier this year. There are 102 Ferrari cars registered in Bucharest, 160 Cadillacs and 100 Chrystlers.The list goes on with 29 Lamborghini cars, 120 Maserati, 10 Maybachs and as many as 1,100 Porsche cars. There are also 48 Rolls Roys cars in the Romanian capital city and 125 Ford Mustangs. Chances to see such cars on Bucharest streets are higher in areas like Dorobanti and more recently, the Decebal boulevard, close to the coffee shops in these areas.

editor@romania-insider.com

(photo source: Sxc.hu)