Los Angeles Times
Monday, April 10, 2006

LOS ANGELES, April 9 -- Sheriff's deputies have arrested the Swedish video game executive who crashed his rare Enzo Ferrari in Malibu in February, alleging that he did not own that car and others in his $3.5 million exotic car collection, authorities said Sunday.

Stefan Eriksson faces grand theft of property charges after detectives raided his gated Bel-Air estate Friday night, spent six hours searching it and then arrested him Saturday.

Los Angeles County sheriff's spokesman Steve Whitmore said Eriksson was arrested after detectives concluded that the wrecked red Enzo -- as well as a rare Mercedes and a black Enzo Ferrari -- were owned by British financial institutions.

The cars were purchased in Britain last year, and Eriksson apparently brought them to Los Angeles. But financial institutions that held titles to the cars informed detectives that payments had lapsed, Whitmore said.

Although no one was injured in the crash on the Pacific Coast Highway, the investigation has generated significant attention because of the strange circumstances and the fact that it destroyed one of only 400 Enzo Ferraris ever built. Authorities think the car was going 162 mph when it smashed into a power pole.

Eriksson told deputies he was not the driver and that another man, named Dietrich, had been behind the wheel. Eriksson said Dietrich fled the scene. But detectives have openly mocked his story.

Eriksson is being held without bail because the Immigration and Customs Enforcement have put a hold him, though the reason is unclear. His attorney could not be reached for comment.