Editor's note: Steven A. Meyerowitz,Esq., is a director of FC&S Legal. FC&S and PC360 are bothowned by Summit Professional Networks.

Andy Lee House, a 39-year-old Lufkin, Texas, man, has pleadedguilty to wire mail fraud in the U.S. District Court for theEastern District of Texas.

According to information presented in court, in October 2009,Mr. House purchased a 2006 Bugatti Veyron for $1 million and had itinsured for $2.2 million.

Prosecutors said that on November 11, 2009, House drove thevehicle into the Gulf Bay near La Marque, Texas, and upon exitingthe Bugatti, left the motor running, resulting in the engine takingon large amounts of salt water, which destroyed the vehicle.

See details of House'sinitial claims and insurer Philadelphia's fraudallegations: Insurer–Don'tBlame a Pelican for Submerging YourBugatti

According to the government, House reported to first respondershe was reaching for his cell phone when he swerved and accidentallydrove into the bay. The next day, prosecutors said, House calledhis insurance carrier and filed a $2.2 million claim on theBugatti. House did not know, however, that another motorist hadvideoed the accident, including the moment House drove the vehicleinto the water, and then had posted the videoto YouTube (warning: strong language in thevideo below):

House faces up to 20 years in federal prison at sentencing.