A multimillionaire with a bad driving record was fined a record $290,000 for going 85 mph in a 35 mph zone in his red Ferrari Testarossa, according to a January 7, 2010, story in USA Today.

The fine is based on the unidentified speeder's wealth and his previous fast offenses. Swiss voters approved a penalty system that replaces prison for such crimes as speeding with "day fines" based on wealth — in this case $22.7 million.

The fine is more than double the previous record, doled out to a Porsche driver in Zürich in 2008. Half must be paid upfront, and the rest is linked to good behavior during a two-year suspended sentence.

"The accused ignored elementary traffic rules with a powerful vehicle out of a pure desire for speed," the court said.

The speed limit in St. Gallen, in eastern Switzerland, is 35 mph.

Swiss news media reported that the man owns a villa with five luxury cars, including the Ferrari. The U.K. Guardian says the speeder initially refused to appear in court, claiming that he was a diplomat from Guinea-Bissau and entitled to immunity and that his diplomatic plates had fallen off the car.

The court rejected both claims.