Farah Hashi, 25, from Newport broke the speed limit 32 times in less than four hours after renting the £155,000 supercar.
Dubai police footage reportedly showed Hashi driving between 78pmh and 142mph in the early hours of Tuesday morning on Sheikh Zayed Road, one of the city’s busiest roads.
Hashi left his passport with the car dealership as a guarantee for the car, which cost £1,267 for a two-day hire.
After receiving notifications of the speeding offences the following day, dealership partner, Faris Mohammed Iqbal, made the decision to hold onto the passport. This is because the fines are issued in the named of the vehicle owner, who has to cough up if tourists leave the United Arab Emirates (UAE) without paying.
“We can’t pay this amount should the car be taken into the pound,” Iqbal told local newspaper The National.
“It’s still with the tourist, parked at his hotel. I won’t be trying to take it back, because once I do, I know I have to surrender it to the police.
“Then who pays the money for the impound? We shouldn’t do so for sure. It’s his fault and he should pay that amount.”
Hashi’s brother, Adman Hashi, told the BBC that his brother cannot afford the substantial fines, however.
“Now they say he must pay £40,000, it is ridiculous. There is no way he has that money. He is out of work at the minute and went to Dubai to visit friends.
”He didn’t even pay to hire the car. One of his friends had sorted it out for him. He was caught doing 200 km/h but he didn’t know the laws over there,“ he said.
Iqbal submitted an immediate request for a travel ban on Hashi, costing almost £250, which was rejected. He has also informed the British Embassy.
The dealership could potentially file for the penalty to be transferred to the UK, although the costs involved are prohibitive.
Adman Hashi said that his brother has had to borrow money to extend his stay in Dubai and that the family do not know how he will get home.