This is an obvious case of a wealthy young person's arrogance. Obviously this beanpole (he needs to get his ass to the gym and start pumping some iron), thought that:
1. He is rich a drives a Ferrari so he is above having to pay for parking
2. He is above the law
Hopefully he will learn his lesson, but my guess is it will take him a few such incidences.
Alternatively, his family is very wealthy, is very connected, and the cop will ultimately be in deeper shit than the punk. Just the way it is.
Audi S6 * Audi S3 * Porsche Cayman GTS
--Former BMW M3 owner