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An insurer has sued the owner of one of the rarest sports cars. Philadelphia Indemnity Insurance Co. says owner Andy House of Lufkin, Texas is not entitled to a payout for what the company says was not an accident.

The insurer alleges fraud against House and his business associate, Lloyd Gillespie, whose interest-free loan allowed House to buy a 2006 Bugatti Veyron for $1.05 million, according to court documents.

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