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Swede arrested in crash of rare Ferrari in U.S.

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LOS ANGELES (AP) _ A Swedish video game entrepreneur under investigation in the crash of an exotic Ferrari worth $1 million US in Malibu has been arrested on suspicion of grand theft, a Sheriff's spokesman said.

Stefan Eriksson, 44, was arrested at his Bel-Air home Saturday after detectives searched it for six hours Friday, Sheriff's spokesman Steve Whitmore said Sunday.

Detectives concluded the wrecked Enzo Ferrari, along with a Mercedes and another Enzo Ferrari in Eriksson's collection, were owned by British financial institutions, said Whitmore.

Eriksson apparently brought the cars to Los Angeles when he moved here from Britain last year. But financial institutions that held titles to the vehicles said payments had lapsed, Whitmore said.

``This is the beginning of the investigation,'' said Whitmore. ``All three cars have now been confiscated.''

Eriksson was being held without bail, and immigration authorities had placed a hold on him.

Eriksson was in the Ferrari that police say was travelling at 260 kilometres an hour when it hit a pole along Pacific Coast Highway and all but disintegrated. He escaped the February crash with only a cut lip.

The crash spun into a complicated web of mystery when Eriksson told authorities he was a passenger in the car and that the driver, a German acquaintance he knew only as Dietrich, ran into the nearby hills after crashing the Ferrari during a race with a Mercedes.

Sheriff's deputies launched a search but failed to find Dietrich.

Eriksson was an executive with Gizmondo, a European video game company that crashed with some $200 million in debts.

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Swede arrested in crash of rare Ferrari in U.S.
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