Did Driver Intentionally Crash $1M Bugatti Into Lagoon?

An insurance company accuses driver of fraud after he attempts to collect on a $2 million policy.
3:00 | 10/02/12

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Transcript for Did Driver Intentionally Crash $1M Bugatti Into Lagoon?
Now, to the incredible video at the center of a multimillion-dollar fraud trial. A man driving a supercar, swerving into a texas lagoon. The insurance company say he did it to collect the $2 million policy. But abc's john schriffen is here with more on what's developing. Reporter: The reason this video has more than 3 million hits online is because of the car. It's so rare, experts say you may never see one in your lifetime. Imagine a car enthusiast excited to capture the moment he spotted one. Now, the amateur video is at the center of a multimillion-dollar lawsuit. Lawyers say this is a multimillion-dollar disaster or an elaborate fraud. One of just hundreds made and worth a cool $1 million, driving down a highway near houston, texas, three years ago. Videotaped by car enthusiasts nearby. When out of nowhere -- but exactly what happened is now at the center of an insurance fraud case slated to begin later this month. At the same of the accident, the car's driver, andy house, told police he dropped his phone. When he looked up, he says he saw a pelican and veered to the right, straight into the salt water marsh. About 2 1/2 foot deep. The owner was on the side of the road. He was real calm and everything. Reporter: Just three weeks before the accident, the philadelphia insurance company issued a $2.2 million policy on the car. Now, it says house committed fraud. That this infamous video shows no pelican and no attempts by house to brake. Saying, instead he, quote, intentionally drove the bugatti into the lagoon, to destroy the car and collect insurance proceeds, approximately twice the value of the vehicle. This video is exhibit a. It's the critical evidence that the insurance company's relying on to avoid this insurance policy. Reporter: In the most bizarre twist, it says that house offered him cash to steal the car and set it on fire. This morning, house is countersuing, saying the company owes him $2.2 million. House turned down a request for an interview. But in a statement to abc news overnight, his attorney says, quote, we will not try our case in the media. But will rely on the facts and evidence admitted during the trial of the matter. Oh. Reporter: So, what makes this car so expensive? Experts say it's the technology under the hood in this massive engine, which is why the insurance company was so suspicious when the driver left the engine running submerged in water. According to court documents his excuse, he was being bit by mosquitos. Come on. A pelican and then mosquito bites? That's what he says. We'll see what happens in the trial. Let's check in with sam

This transcript has been automatically generated and may not be 100% accurate.

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