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Cross-country drive on 2 gallons of gas
LOS ANGELES, April 18 (UPI) -- 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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