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Singapore car salesman jailed for gambling away $280k Maserati deposit

Kenny Rogers' country classic The Gambler is right about two things: you gotta know when to hold'em and know when to fold'em. A former Maserati salesman in Singapore is learning that lesson about when to step away from the table, after being sentenced to 33 months in prison for allegedly gambling away a customer's deposit of 350,000 Singapore dollars ($280,800).
According to Asia One, Allan Tan Buan Yuen was selling a Maserati in 2011. He told the customer that the car would take six months to arrive and cost 650,000 Singapore dollars ($522,000). While that may sound high, cars in the Asian country are notoriously expensive.
Yuen asked for a deposit of 150,000 Singapore dollars ($120,400), but instead of handing the money to the dealer, he placed the funds in his own account. Apparently, the customer didn't notice, and over the next few months Yuen received an additional 200,000 Singapore dollars ($160,400) towards the car from him. Clearly, this ruse couldn't last forever, though. When the buyer eventually inquired about his Maserati months later, Yuen admitted that he had already gambled away the entire fortune.

Why Italians are no longer buying supercars

Italy is the wound that continues to drain blood from the body financial of Italian supercar and sports car makers. The wound was opened by the country's various financial police who decided to get serious about superyacht-owning and supercar-driving tax cheats a few years ago, by noting their registrations and checking their incomes. When it was found that a rather high percentage of exotic toy owners had claimed a rather low annual income - certain business owners were found to be declaring less income than their employees - the owners began dumping their cars and prospective buyers declined to buy.
Car and Driver has a piece on how the initiative is hitting the home market the hardest. Lamborghini sold 1,302 cars worldwide in 2010, 1,602 cars in 2011 and 2,083 cars in 2012 - an excellent surge in just two years. In Italy, however, it's all about the ebb: in 2010, the year that Italian police began scouring harbors, Lamborghini sold 96 cars in Italy, the next year it sold 72, last year it sold just 60. The declines for Maserati and Ferrari are even more pronounced.
Head over to CD for the full story and the numbers. What might be most incredible isn't the cause and effect, but where the blame is being placed. A year ago the chairman of Italy's Federauto accused the government of "terrorizing potential clients," this year Luca di Montezemolo says what's happening has created "a hostile environment for ­luxury goods." Life at the top, it ain't easy.

Is this designer sitting in Alfa Romeo's new SUV?

Well, well, well, what have we here? A picture of Lorenzo Ramaciotti, that's what. It was posted by Ralph Gilles on Instagram. But what's more interesting is what Ramaciotti is sitting in. And it appears to be a new crossover from Alfa Romeo. For those unfamiliar, Lorenzo Ramaciotti is one of the foremost designers in the Italian automotive industry. He served as head of Pininfarina until 2005, and in 2007 was named chief designer for the Fiat group. That's put him in charge of styling more Ferraris, Maseratis, Alfas, and others than we could name. But at nearly 68 years old, he's now preparing to retire, handing the reins to the design of everything that Fiat Chrysler Automobiles makes to his American counterpart Ralph Gilles. Gilles paid tribute to Ramaciotti with this photo and statement posted on Instagram. It shows the veteran designer sitting in the back of what looks to be an SUV. The thing is, though, that it doesn't look like any SUV or crossover we've seen to date. Judging from what we can see of the dashboard design – more angular and modern than rounded and retro – and given who's sitting in the back, we're likely looking at either an Alfa Romeo or a Maserati. Both are working on launching their first crossovers, but the similarity of the dashboard and center-stack design to that of the new Giulia suggests this is probably an Alfa. Whatever it is, it appears to have a rather tall but narrow tailgate, with a flat load floor extended by a fold-down rear bench. If Ramaciotti has done half the job with this crossover as he did with hits like the Ferrari 360 Modena or the Alfa 4C, we're sure it will be a stylish affair inside and out. We'll have to hold on to see how it pans out, but judging from the apparent level of completion of the product pictured, it shouldn't be long now. I have got to dedicate my year and this era of my career to one of my true Heroes, design Legend (& very soft spoken) Lorenzo Ramaciotti. Many of you may not have heard of him but have likely loved the cars he has had his hands in. Mr. Ramaciotti has had one of the most illustrious careers an automobile designer can have. Having led one of Italy's most famous design houses, #Pininfarina for 17 years and contributed there for an incredibly prolific 33 years. He came out of retirement in 2007 to lead Fiat design. In 2009 I met him as my colleague, global boss and most importantly a true mentor.