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Ex-Gizmondo Exec Eriksson Charged In Ferrari Crash
Ex-Gizmondo Exec Eriksson Charged In Ferrari Crash
April 17, 2006 | By Simon Carless

April 17, 2006 | By Simon Carless
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Former Gizmondo handheld console executive Stefan Eriksson has been charged on multiple counts following his high-profile Ferrari crash in Los Angeles in February, according to an Associate Press report.

Eriksson, who resigned from the now bankrupt Gizmondo Europe last October following controversy over Gizmondo's financial performance and significant financial perks to company directors, was claiming that he was merely a passenger in the 2003 Ferrari Enzo, which crashed into a light pole on the Pacific Coast Highway, shearing the car in two.

A 'German man called Dietrich', the supposed driver, according to Eriksson, allegedly fled the scene, but the Los Angeles police department have now charged Eriksson with two misdemeanor counts of drunken driving, indicating that they disbelieve his story.

In addition, and more seriously, Eriksson has been arraigned on felony charges of embezzlement, grand theft and possession of a gun by a felon, resulting from his importation to the U.S. of two Enzo Ferraris and a rare Mercedes worth an estimated $3.8 million, according to authorities.

Deputy District Attorney Steven Sowders commented in a statement that these cars were simply leased to Eriksson from multiple British financial institutions, and he had no right to remove them from England. Bail for Eriksson, who had already been arrested on suspicion of a subset of the charges, was set at $5 million, and he could face up to 14 years in prison if convicted.

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