BEAUMONT (August 26, 2014) Andy Lee House, 39, of Lufkin, who authorities say admitted that he deliberately drove his $1 million car into Gulf waters so that he could collect insurance on the vehicle, has pleaded guilty to wire fraud, federal authorities said Tuesday.
House purchased a Bugatti Veyron and had it insured for $2.2 million, authorities said.
The elegant vehicle is considered one of the fastest in the world.
Authorities say House initially claimed in November 2009 that he was reaching for his cell phone when the vehicle veered into water near Galveston.
Salt water flooded the engine, ruining the Bugatti.
But a motorist videotaped the incident, allowing investigators to identify discrepancies in House's account.
Sentencing is pending.
He could be sentenced to as much as 20 years in prison.