Surrey man gets jail for failing to return leased Ferrari
 

A Surrey man has been ordered jailed for 45 days after being held in contempt of court for failing to return a Ferrari to a leasing company.

In March 2008 Jasvir Singh Virdi was held in contempt after the luxury vehicle, which had been leased by his son Jaspal in June 2003, remained missing and a B.C. Supreme Court judge determined the father's conduct in the case was "reprehen- sible." Jaspal Virdi had made a down payment of about $70,000 on the yellow 2003 Ferrari Spider valued at about $300,000.

The terms of the lease were that he make 48 monthly payments of $4,000, including taxes. But on July 1, 2004, Virdi defaulted on the payments and refused to deliver possession of the vehicle to Transportaction Lease Systems Inc., which leased the sports car.

Jaspal Virdi took the Ferrari to his father's repair shop and claimed not to know where it had gone from there. A judge ordered that father and son return the vehicle, but they failed to do so.

The father claimed that the vehicle had been handed off to another man, a claim that was not believed by B.C. Supreme Court Justice Grant Burnyeat, who initially suspended any sanctions against the dad to give him one final chance to locate the Ferrari.

When the dad instead offered another explanation, the judge last week found that a jail sentence was warranted.

Burnyeat said Virdi had sworn a series of "false affidavits" over a 41/2-year period and had shown "blatant disregard" for the court's orders.

He added that Jasvir Virdi was a "poor candidate" for house arrest.

"The many instances of misleading the court, obstruction of the judicial process and willful noncompliance with the order and other orders of the court allow me to conclude that only incarceration is appropriate," said the judge.

A lawyer for Transportaction said that he and the defendant's lawyer are still working out the form of the order to put the dad behind bars.

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http://www.theprovince.com/Cars/Surr...057/story.html


I think I remember seeing this Ferrari cruising our streets a few summers ago.

Absolutely disgusting that it would take 4.5 years to deal with something relatively simple like this. And where does this leave the leasing company? No car, and no money. How does putting this guy behind bars help them?

car is probably long gone now

A $300k vehicle is effectively stolen along with repeated, confirmed lies that amount to perjury.

How does the judge throw the book at them? 45 days in jail.

crazy

It doesn't, but paying for it with his life (time=not being able to 'live') is a hard lesson learned, and a message to other people who think about pulling shit like this. people who default loans are scum, useless burdens for our society as a whole. credit is one of the major things that moved society forward

I never understood how people can be overwhelmed with that much debt.

I mean, the only debt i've ever suffered in life is my mortgage, but that's a fact of life for a person my age buying a condo.

I had debt with my car, and it's paid off...

There's a saying... "if you don't have money... don't spend it"

That's the difference between manageable debt (spending the money, aka credit, you have) and I guess un-manageable debt (not paying off, or getting into further debt just to stay afloat)

^if he has to sink that low for whatever it is that he needed with the Ferrari, then his "time" probably isn't very valuable anyways.

45 days for a 300,000 car?

that's more than 6000 per day earned lol

Unless the court has a claim against this scum's property, 45 days for what he did really doesnt mean anything

The judge didn't give him a jail sentence because he defaulted on his lease payment and literally stole a 300k vehicle

He was jailed because he gave false affidavits, which is a serious criminal offenses. He should be charged with obstruction of justice. 45 days for that is a joke.

hes going to get a sentence for scamming the lease sooner or later, and it better not be 45 days or else you'll see me in a ferrari at the next rs meet

he stole the ferrari, not default.

omg.. if you cant afford a ferrari than just dun buy it.. =.=

Smart guy, Surrey FTW! :thumbsup:

Not the first time the Virdis have been in court...

CMIC knew that her son was intending to use the mortgage proceeds to buy a Ferrari

http://www.cwilson.com/newsletters/f...s/FS-oct06.htm

Kev

Even "managable" debt is something I don't like.

I never liked owing people money... just isn't in my nature I guess..

^So...no mortgage then? :p

He got the downpayment for the car by fraudulantly transfering his moms home into his name, remortgaging it and taking 215K cash and then transfered it back into her name.

Who would do that to their own mother? Why would the father protect his son in the case of the Ferrari? What a tool.

the dad isnt the one who leased the vehicle.... he's the one getting jail time for lying

he could probably appeal that decision and get it removed though but a 45 day vacation (what is that 2.5 weeks before he can be released?) isn't too long

crminal proceedings does not equal to civil litigation i believe...

they can still sue these guys but will they have the money to pay up for the damages though ... who knows

Doubt it.

I'm guessing these are one of those guys who's life is built on credit but with no real or liquid assets to support the credit.

Sounds like a typical day in Surrey...:D

That's the part that really got me. My mom is at the top of the list for who I love, and I'm sure a lot of people share the same idea.

i dont get it. so he put $70k cash down on it and made 12 payments to equal $118k. where did the rest of the $97k go? also what happened to the car? they can't drive it since they dont own it. why not give it back or do an icbc scam on it?