Moron destroys rare Ferrari

[GrandeDavid]

Swedish Businessman Pleads
Not Guilty in Ferrari Case

http://online.wsj.com/article/SB1145...ews_whats_news

LOS ANGELES – The mystery behind the high-speed crash of a rare Ferrari on a California coastal highway took another strange turn as prosecutors filed embezzlement, grand-theft, drunken-driving and weapons charges against a Swedish businessman.

Bo Stefan M. Eriksson, 44 years old, a former executive with European videogame company Gizmondo, pleaded not guilty Monday and was ordered held on $5.5 million (€4.55 million) bail.

The case stems from the Feb. 21 crash of a Ferrari Enzo – one of only 400 made – which slammed into a pole on Malibu's Pacific Coast Highway in California while traveling at an estimated 162 mph (260 kph). The $1 million vehicle was destroyed; Mr. Eriksson survived the crash with just a cut lip.

The accident triggered an investigation when Mr. Eriksson told police he was only a passenger in the car, described as part of his collection, and that the driver was a German acquaintance he knew only as Dietrich who ran into the hills after the crash. Prosecutors contend that Dietrich never existed and that Mr. Eriksson was behind the wheel with a blood-alcohol level above the legal limit. The charges were filed after officials received results of a DNA test of blood found on the vehicle's driver-side air bag.

They charged Mr. Eriksson with three counts each of embezzlement and grand theft for allegedly bringing two Enzos and a Mercedes McLaren SLR -- altogether worth an estimated $3.8 million -- into the U.S. even though he had only leased them from British financial ins utions. The lease contract prohibited him from taking the vehicles out of Britain, said Deputy District Attorney Steven Sowders.

During a search of Mr. Eriksson's house in Bel-Air, California, authorities said they discovered a .357-caliber handgun, which was illegal because he had been convicted of drug, assault, fraud and other charges in Sweden between 1988 and 1994. He was charged with one felony count of gun possession and two misdemeanor drunken-driving charges.

If convicted on all counts, Mr. Eriksson could be face up to 14 years in prison.

Mr. Eriksson wore an orange jail uniform and listened from behind a glass barrier during the hearing as his attorney, David Elden, declared his innocence. "This is a traffic collision that has turned into a major criminal case because of the value of the Ferrari," said Andrew Flier, another of Mr. Eriksson's attorneys, said later.

Los Angeles Superior Court Judge Mary Strobel set a bail review hearing for April 24.

[GrandeDavid]

I think this guy needs to do hard time just for destroying such a rarity. Damn!

[CosmicCowboy]

go for the death penalty!

[CubanMustGo]

$5.5 MILLION bail, though? Murderers don't have to put up that kind of scratch to get out on bail.

Could make a of an ad campaign for Ferrari, though ... "drive the safest sports cars in the world, crash tested to 162 mph without incurring serious injury."

[Marklar MM]

prosecutors filed embezzlement, grand-theft, drunken-driving and weapons charges

5 million is a bit harsh, but when you total a rarity such as an Enzo, you get what is coming...especially if the judge is a car buff.

[Marklar MM]

At least he didn't total one of these.

[Vashner]

Bail is based on how rich your means are too. So this guy must have some money or the bail would not be that high. Or the judge considers him a flight risk.