Authorities Find $60,000 BMW 740i Buried Underground

Investigators unearthed a 2000 BMW 740I buried in a giant hole in North Texas 12 feet underneath the ground. Special Agent with the National Insurance Crime Bureau Tommy Reed stated that by the looks of it was "in the ground for nearly two years. It was in bad shape." At first authorities noticed that the area was muddy and something did not look right about it. They brought in some machinery and workers and started to dig. Reed said that, "There was trash exposed. It was six to seven (feet) down, and we had to dig another four to five feet to get it out." The BMW is now worthless - but at the time it was brand new and cost $60,000. Authorities said that they found it in two separate pieces. "I've uncovered vehicles buried before… Stolen vehicles buried before, but not one this deep," Reed said. Records in the car show that it was once owned by Van Lewis who lives on the ranch. According to records at the NCIB Lewis' son filed a police report two years ago that stated that the BMW had been stolen. Obviously that report was a fake. "It was nearly eight-years-old. The insurance company paid $18,800 something for it. It's definitely insurance fraud," said Reed. Insurance fraud is something that is becoming more and more common. "The percentage of insurance fraud is up there in the neighborhood of 30 percent," said Reed. "It causes our premiums to go up every year. Everyone pays for this." Authorities are still investigating and have not yet filed charges.