IN THE NEWS - April 20, 2006 :
$5.5M bond in Ferrari crash case
Ex-videogame executive Bo Stefan Eriksson was being held
in Los Angeles on $5.5 million bond on charges stemming
from the crash of his $1 million Ferrari Enzo. Eriksson,
44, appeared in Los Angeles County court Monday on charges
of embezzlement, grand theft, drunken driving and illegal
possession of a handgun. Prosecutors accused Eriksson of
theft for removing $3.8 million in leased luxury cars from
England and being the driver in a 162 mph February crash
near Malibu, Calif., that destroyed the rare Ferrari, the
Los Angeles Times reported. Prosecutors also said Eriksson
failed to disclose Swedish convictions on drug and
counterfeiting charges when he entered the United States
last year. The attorney for Eriksson, who pleaded not
guilty, described the charges as "overblown" and the bond
as "excessive." Eriksson was an executive of London
videogame company Gizmondo, which filed for bankruptcy
this year with $200 million in debt. The company's
finances are under investigation. "If the guy didn't
get into the wreck, none of this would have happened,"
Malibu Mayor Andy Stern told the newspaper.
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