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Last Updated: March 04. 2011 4:07PM .

Michigan insurance company sues feds over wrecked Ferrari

Robert Snell / The Detroit News

Detroit— A Michigan insurance company sued the federal government today in U.S. District Court for at least $750,000 because an FBI agent wrecked a rare Ferrari two years ago, according to court records.

The lawsuit, filed by Southfield-based Motors Insurance Corp., accuses the federal government of negligence and conversion, according to a claim filed in U.S. District Court in Detroit.

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The insurance company filed a separate lawsuit last week against the FBI and U.S. Department of Justice to compel production of records sought under the Freedom of Information Act. The insurer wants records that could shed light on the costly crash.

The lawsuit stems from the May 2009 crash of a Ferrari F50 in Lexington, Ky. The exotic sports car was being driven by an FBI special agent who lost control and crashed into a tree, significantly damaging the car, according to the lawsuit.

The Ferrari took a mysterious path into the FBI's possession.

The sports car was stolen from a Ferrari dealership in Rosemont, Penn., in September 2003. The dealer submitted a claim to Motors Insurance Corp., which had insured the Ferrari.

Motors Insurance paid the claim and took ownership of the Ferrari.

In August 2008, the FBI and local law-enforcement authorities found the Ferrari in Kentucky, almost five years after it was stolen.

The FBI kept the Ferrari during an investigation and eventual prosecution of the thief, according to court records.

Then, the FBI took it for an ill-fated spin, according to the lawsuit.

Court records indicate Assistant U.S. Attorney J. Hamilton Thompson took a "short ride" in the Ferrari with FBI Special Agent Frederick C. Kingston, who lost control and crashed into a curb, bushes and a small tree.

Following the crash, Motors Insurance submitted a claim to the FBI and Justice Department for $750,000. The claim was denied.

There were only 249 models of the 1995 Ferrari F50 built — 50 of which are known to be located in the U.S., according to court records.

From The Detroit News: http://detnews.com/article/20110304/MET ... z1Fyilt0Uu