Stefan Eriksson pleaded no contest to charges of embezzlement, days after a jury had failed to agree a verdict on charges he had stolen two Ferrari Enzos and a top-end Mercedes-Benz.
Eriksson, known in Sweden as “Tjock Steffe” or “Fat Steffe”, was caught after he wrote off one of the Enzos in a 160 mile per hour (257 kilometer per hour) crash near the exclusive celebrity enclave of Malibu in February.
The car – one of only 400 made and the most expensive Ferrari on the market – was severed in two after slamming into a power pole. Eriksson walked away unscathed from the crash.
Prosecutors said Eriksson stole the three cars after leasing from a British company and shipping them to the United States.