Federal agents this morning seized an exotic car valued at more than $700,000 from Family Classic Cars in San Juan Capistrano, where it had been left from a car show that took place there on Friday.

The U.S. Immigration and Customs Enforcement agency served the seizure warrant for a 1994 Cizeta V16.

ICE said the Italian car is one of fewer than a dozen such vehicles produced by automotive engineer Claudio Zampoli in a joint venture with music composer Giorgio Moroder.

According to a news release, ICE investigators allege that Orange County resident Zampoli violated U.S. customs and environmental laws when he brought the car into the country in 2001.

In the affidavit filed in support of the seizure, Zampoli’s import agent stated on customs documents when the car was imported that it was worth $125,000, even though the car originally sold new for $600,000, ICE said.

Additionally, the federal agency said the car does not meet U.S. environmental and safety regulations.

“Make no mistake, the illegal importation of gray market vehicles like this is not just a technical violation,” said Miguel Unzueta, special agent in charge for the ICE Office of Investigations in Los Angeles. “Cars that don’t meet U.S. standards are outlawed for a reason. These vehicles can pose a real threat to public health and safety.”

The folks at Family Classic, meanwhile, say they were just as surprised as anyone when federal agents arrived this morning to seize the car.

“We don’t own the car, we weren’t trying to sell the car and it wasn’t even on consignment,” said Family Classic owner Marc Spizzirri. “Apparently they went to (Zampoli’s) business first to seize the car. Then the next thing I know, I had 10 agents here.”

“The immigration guys were total gentlemen,” Spizzirri added. “They couldn’t have been more cordial. They said, ‘This has nothing to do with you; we are just taking the car out of here.’”

(We are still trying to find a phone number to reach Zampoli for comment.)

As for the Cizeta, it will remain in storage while authorities seek to have it forfeited to the federal government. If that happens, it will be offered at a public auction, ICE said. But if sold, the car would then have to be exported due to it not meeting the environmental and safety standards, the government said.

The Cizeta features a V16 engine capable of producing 560 horsepower and was first unveiled in 1988 in Los Angeles, according to the Cizeta Web site.