(CN) - A Texan admitted he drove his $1 million Bugatti Veyron supercar into the Gulf of Mexico to collect $2.2 million in insurance money, federal prosecutors said.
Andy Lee House, 39, of Lufkin, pleaded guilty Tuesday in Beaumont Federal Court to a criminal information charging him with wire mail fraud. He faces up to 20 years in federal prison.
The Veyron is considered the fastest street-legal production car in the world. It was first produced by the Volkswagen Group in 2005. The car's everyday top speed is listed at 213 miles per hour, but German inspection officials recorded an average top speed of 253 mph during test sessions in April 2005.
House bought a 2006 Bugatti Veyron for $1 million in 2009 and had it insured for $2.2 million, the U.S. Attorney's Office said in a statement.
"On Nov. 11, 2009, House drove the vehicle into the Gulf Bay near La Marque, Texas, and upon exiting the Bugatti, left the motor running, resulting in the engine taking on large amounts of salt water which destroyed the vehicle," prosecutors said in the statement. "House reported to first responders he was reaching for his cell phone when he swerved and accidentally drove into the bay."
The next day, House filed a $2.2 million claim with insurers.
"However, House did not know that another motorist had videoed the accident, including the moment House drove the vehicle into the water, and then posted the video to YouTube
," prosecutors said.
A sentencing date has not been set.