Last updated at 12:40 PM on 16th June 2010
A British financial expert has been arrested after taking part in a ‘Cannonball Run’ race in the US.
Spencer Lodge was pulled over by traffic police travelling at more than 100mph in a Lamborghini Spyder sports car.
The 40-year-old was among 27 others taking part in an illegal 550-mile race from New York to Montreal in Canada in a fleet of hired sports cars worth over £2million.
In the dock: Spencer Lodge, left, at Chittenden Court in Vermont
Speed fan: Mr Lodge, left, leaves court with his lawyer after being fined $881
Lodge, who works for the UAE-based financial specialists De Vere Offshore, told police he had won the £140,000 Lamborghini as a prize for being the top salesman in the company.
He and 14 others had hired the luxury cars in New Jersey and planned to race to Montréal in Canada to attend the Formula One Grand Prix last weekend.
Lodge told a court in Vermont they had based their cross country adventure on the ‘Cannonball Run’ – a 1981 film on a high speed race starring Burt Reynolds.
Police were tipped off about the sports cars by other drivers as they raced from Boston to the Canadian border.
Fast: A Lamborghini Spyder like the one Lodge was caught doing 104mph in
Race route: Lodge was driving 550 miles from New York to Montreal, Canada
Lodge was pulled over after a dashcam camera clocked him going at 104mph, more than 30mph over the legal speed limit on a U.S. motorway.
During a court appearance in the town of Colchester, Vermont, Lodge pleaded guilty to speeding
He told the court the race had been organised by his company with the prize of a holiday in the U.S. as the first prize for the best salesmen.
The group had planned to stay at luxury hotels on their cross country drive.
He was fined $881 after pleading guilty and left the court in a people carrier driven by a friend.
He refused to make any comment outside the courtroom.
Other cars taking part in the illegal race included Porches, Ferraris and Maseratis.
‘We’re just really afraid this would result in tragedy. In this case, tragedy was averted,’ said Liutenant Bob Stebbins of the Chittenden County Sheriff’s Department.
Police say more charges could be coming against other ‘Cannonball Run’ participants.
DeVere Offshore boast that they are the largest independent financial experts in the world managing assets of over £5billion for 50,000 clients.
The company has offices worldwide, including in London and New York