He was caught doing 180 mph in a brand new Mercedes SLS and said that “I think the speedo on the car, which is new, is faulty”.
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The sum of his fine was calculated using a formula that uses both the drivers income and the speed at which they were caught.
He will now have to pay £2,166 per day for 300 days; in total, £649,800.
A police spokesperson said after the conviction: “We have no record of anyone being caught travelling faster in the country”.