Heir to the Fiat empire and fashion icon Lapo Elkann was arrested Saturday in New York City for falsely claiming he was kidnapped.
Elkann reportedly made up the story about being kidnapped after spending two days with a transgender escort and running out of cash, according to the New York Daily News. He allegedly contacted his family and told them that he was being held against his will by the escort for $10,000.
In reality, sources told the Daily News, Elkann and the escort did cocaine and pot for two days and needed the cash for more drugs. A family member agreed to drop off cash, but when Elkann and the escort showed up, police took them into custody for questioning.
Police then determined it was Elkann’s idea to file the false report about being kidnapped, and he was charged Sunday with falsely reporting an incident. The charge is a misdemeanor and Elkann was released with a desk appearance ticket, the Daily News reported.
At 39, Elkann has quite a history of flamboyant behavior, including a 2005 overdose in which he was found with a transsexual prostitute, according to the New York Daily News. He is considered one of Italy’s most eligible bachelors and founded a high-end sunglasses company, Italia Independent. Shares of that company fell on Monday after the news of his arrest broke.
Elkann also has been involved with special Gucci editions of Fiat cars in recent years. Elkann posted on Instagram last week that he was going on a road trip to get ideas for his business.