The China Post
Date: April 10, 2015
By: The China Post news staff
TAIPEI, Taiwan — The Taipei District Prosecutors Office dropped a case involving a Ferrari whose owner claimed his vehicle broke down less than one lap into a race in last year’s GT Asia Series.
Fan Fang-jhang (范芳彰), vice president of Tung Great Enterprises Co. (東鉅), allegedly spent NT$12 million on a Ferrari 458 Challenge.
The vehicle was purchased from Zhou Jhe-nan (周哲男), the head of Top Speed Super Car Group (極速超跑集團) and the organizer of Taiwan’s team that participated in the 2014 GT Asia Series.
Fang said because the car’s transmission broke down, he had to opt out in the middle of the race. The transmission alone would cost more than NT$1 million, he said.
Although Fang signed up to race in the 2014 GT Asia Series, because his car had not arrived, he was unable to compete in South Korea. [FULL STORY]