Ferrari Guy Trial Ends in Hung Jury

LOS ANGELES, Nov. 3, 2006 -- The trial of "Ferrari Guy" Stefan Eriksson has ended with a hung jury.  A mistrial has been declared and the jury dismissed.

Eriksson, represented by high profile Alabama lawyer Jim Parkman, had been charged with embezzlement, grand theft, and DUI.  Eriksson pleaded no contest earlier in the trial to the DUI charge.  There are separate charges related to possession of a firearm.  The gun possession counts will go to trial on Monday, according to California attorney Alec Rose.

Parkman told me moments ago,"I'd have like to have won it outright, but I'm satisfied."  I talked to Alec Rose late Friday evening and he told me the new trial will take place in the next 60 days.  Rose says the charges are still the same and therefore Eriksson's bond situation will not change and he will remain in custody.

Parkman's partner William White will be headed back to L.A. on Sunday to continue working with Rose while Parkman goes to federal court Birmingham among other things.

The Swedish businessman allegedly crashed a red Ferrari Enzo into a utility pole on the Pacific Coast Highway going between 162-200 mph.  That car along with black Ferrari and a Mercedes McLaren SLR were shipped back to the financial institutions which owned them.

The prosecution said Eriksson brought the high priced vehicles into the U.S. without permission of the financial institutions, but defense attorneys say their client was not trying to defraud anyone.

Charges related to the red Ferrari Enzo ended up not being a player in the case after the witness from the bank involved refused to travel to Los Angeles.