Formula One driver Gerhard Berger’s stolen Ferrari found in London after 28 years


Tariq Tahir
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A Ferrari stolen from Gerhard Berger 28 years ago when he was a Formula One driver has been recovered by police in the UK.

The red Ferrari F512M Testarossa worth £350,000 was stolen from the Austrian 10-times Grand Prix winner while he was competing at the San Marino Grand Prix at Imola in April 1995.

Also stolen was another Ferrari, a silver-grey F355, belonging to fellow Formula One driver Jean Alessi, which remains missing. Both drivers were competing for the Ferrari Formula One team at the time.

Berger, who is now 64, reportedly came across the thief as they were making off with the car and unsuccessfully tried to chase them in a friend’s Volkswagen Golf.

At the time, Italian police said they believed the cars were likely to have been stolen to order.

London's Met Police said officers received a report from the legendary Italian car maker in January this year after it had carried out checks on a car being bought by a US buyer through a UK broker last year.

The Organised Vehicle Crime Unit discovered the car had been shipped to Japan shortly after being stolen, before it was brought to the UK in late 2023.

Officers then swooped to take possession and prevent it from being exported.

Gerhard Berger's Ferrari was missing for 28 years before police in the UK recovered it. Photo: PA
Gerhard Berger's Ferrari was missing for 28 years before police in the UK recovered it. Photo: PA

Met Police officer Mike Pilbeam, who led the investigation, said the team’s inquiries “were painstaking and included contacting authorities from around the world”, but resulted in the car being quickly recovered.

"The stolen Ferrari – close to the value of £350,000 – was missing for more than 28 years before we managed to track it down in just four days,” he said.

"We worked quickly with partners including the National Crime Agency, as well as Ferrari and international car dealerships, and this collaboration was instrumental in understanding the vehicle's background and stopping it from leaving the country."

Gerhard Berger, right, with fellow Formula One driver Jean Alessi in 1995. Getty Images
Gerhard Berger, right, with fellow Formula One driver Jean Alessi in 1995. Getty Images

The Met’s Organised Vehicle Crime Unit is a small team of experienced vehicle examiners, police officers and staff with a wealth of knowledge.

In 2023, the unit recovered 418 vehicles with a combined value of £31 million. Of these, 326 have been linked to organised criminal gangs, making up £21 million of the total value of vehicles seized.

Berger competed in Formula One for 14 seasons, finishing third overall in the 1988 and 1994 championships, both times driving for Ferrari.

He finished his career at the Benetton team and since retiring has become a respected pundit on the sport.

The biog

Family: He is the youngest of five brothers, of whom two are dentists. 

Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.

Where he works: Liberty Dental Clinic 

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Results

Stage 4

1. Dylan Groenewegen (NED) Jumbo-Visma 04:16:13

2. Gaviria (COL) UAE Team Emirates

3. Pascal Ackermann (GER) Bora-Hansgrohe

4. Sam Bennett (IRL) Deceuninck-QuickStep

5. Caleb Ewan (AUS) Lotto Soudal

General Classification:

1. Adam Yates (GBR) Mitchelton-Scott        16:46:15

2. Tadej Pogacar (SLO) UAE Team Emirates         0:01:07

3. Alexey Lutsenko (KAZ) Astana Pro Team          0:01:35

4. David Gaudu (FRA) Groupama-FDJ         0:01:40

5. Rafal Majka (POL) Bora-Hansgrohe

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

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What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

The Light of the Moon

Director: Jessica M Thompson

Starring: Stephanie Beatriz, Michael Stahl-David

Three stars

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

Updated: March 04, 2024, 2:50 PM