US drops case against Fiat heir arrested for faking kidnapping

The Gianni Agnelli grandson faked his kidnapping when he ran out of money during a two-day holiday

US authorities have decided not to charge an heir to the Fiat auto fortune who was arrested for allegedly faking his own kidnapping to pay for a weekend of debauchery, officials said on Thursday.

According to several US media outlets, Lapo Elkann, the grandson of legendary Fiat founder Gianni Agnelli, tried to make his family believe he had been kidnapped when he ran out of money during a two-day bender of sex and drugs.

The 39-year-old Italian playboy reportedly spent that time with a transgender prostitute, with whom he consumed alcohol, marijuana and cocaine before running low on funds, the reports said.

He reportedly came up with the plan to ask his family for USD 10,000 in ransom to pay for more drugs, US media said.

The family alerted police, who arrested Elkann after determining his claims were false.

Elkann was ordered to appear in a New York court for falsely reporting an incident. Police have not said if Elkann was found with a prostitute or whether drugs were involved.

But Manhattan prosecutors ultimately decided not to charge him and to drop the case, a spokesman for their office told AFP.

Elkann's brother John took over the helm of the Agnelli empire in May 2008, becoming the head of the company that manages the family's holdings.

The Agnelli family controls about a 30 per cent stake in Fiat, and 44 per cent of the voting rights.

Elkann made headlines in 2005 when he slipped into a coma after a drug overdose -- also reportedly while in the company of a prostitute.

Elkann briefly held a job in Fiat's marketing department, but then moved on to other projects. He is one of the founders of the eyewear brand Italia Independent.