Police seize luxury cars involved in insurance scam

Fraud ring operated by smuggling vehicles to Asia and declaring them as “stolen” to claim insurance money

Police seize luxury cars involved in insurance scam

Insurance News

By Gabriel Olano

Police in Thailand have raided several car showrooms, recovering six out of 42 luxury cars reported as stolen in Europe as part of an insurance scam.

The Department of Special Investigation (DSI) acted on information from the UK’s National Vehicle Crime Intelligence Service, which revealed 41 vehicles listed as stolen in the UK and one in Italy.

Out of the 42 vehicles, 10 have been located by the DSI, according to deputy director-general Korawat Panpraphakorn. The six recovered vehicles were an Audi Q7, a BMW M4, a Honda Civic GT, a Lamborghini, a Mercedes-Benz G350, and a Porsche Boxster, according to a report by the Bangkok Post.

Korawat added that two BMW M4s and a Porsche Cayenne were already resold, while a Porsche Boxer was found in a duty-free zone of the Customs Department.

British authorities informed the DSI on how the insurance scam was run, according to The Nation.

Buyers began by taking out car loans to buy luxury vehicles in the UK and Italy. After a few instalments had been paid, the cars were smuggled into Thailand and vehicle theft reports were filed in order to claim insurance money.

According to the DSI, the owners of the resold vehicles can use them in the meantime, but they must surrender the cars immediately when ordered to by the authorities.

Related stories:
Scam shipping fraudulently registered luxury cars to China uncovered
Lamborghini scam foiled by lack of insurance
Cloned car syndicate operating in Singapore and Malaysia

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