Connecticut Police seize rare stolen Ferrari 250 PF Cabrio

We're tying to figure out which is the greater nightmare scenario. On one side, you have a collector who had his ultra-rare and extremely valuable classic Ferrari stolen. On the other, you have another collector who had the same Ferrari seized by state troopers. One car, two collectors, and one very unfortunate set of circumstances.

The car in question is a 1958 Ferrari 250 GT Pininfarina Series 1 Cabriolet, one of only 40 made. It was owned by a collector in Switzerland until it was stolen from a warehouse in Spain in 1993. The owner refused to collect compensation from the car's insurers, certain as he was that such a rare vehicle would turn up sooner or later. Fast forward fifteen years to the residence of Paul Hallingby in Sharon, Connecticut, where the Motor Vehicle Fraud Task Force of the Connecticut State Police showed up to take possession of the car. Hallingby, who paid over half a million for the car, now worth millions, is reportedly cooperating with the authorities. However, few details are known about the car's whereabouts in the intervening years except that it is believed to have been smuggled into the country through New Jersey where it was given a false Vehicle Identification Number. Hallingby is surely devastated, but the collector in Switzerland must be elated to be reunited with his baby after fifteen years.

[Source: Inside Line]