Man who caused Ferrari accident is held in custody pending federal court trial

COLUMBUS, Ohio (WSYX) — A judge ordered the detention of a man facing federal charges after he crashed his Ferrari last month while allegedly fleeing police.

According to a police report, Nicholas Price, 45, of Marysville, fled from a Dublin police officer attempting to make a traffic stop shortly after midnight on July 12 and crashed his 2022 Ferrari F8 Spider near Emerald Parkway and Sawmill Road.

His Ferrari struck another vehicle and spun several times, striking a second vehicle. An officer estimated Price's speed at over 100 miles per hour.

The police report states that Price suffered a severe cut to his face, with his skull protruding. The Dublin police officer also noticed that Price smelled alcohol on his breath and asked the hospital to provide his medical records, including blood tests.

Price has not yet been charged in state court for the accident, but is in the Franklin County Jail on a federal charge.

He was indicted in March and charged in May with dozens of federal crimes related to money laundering and wire fraud. He pleaded not guilty.

The public prosecutor accuses him of accepting money in return for supplying a “minority company”. [MBE] Company that received government contracts.

Price could not bid on the contracts because he was not an MBE, but he was able to complete the contracts at a lower price for the MBE company, allowing it to outbid others on the contract.

According to the charging documents, one victim described Price as a “buddy” of many people in the state of Ohio who often knew about potential contracts before they were advertised or put out to bid. The company used those prices to win the contract from ODOT.

Prosecutors said Price repeatedly stole money that was supposed to go to suppliers. They said the state would pay the MBE for the order, and the MBE would pay Price, who would find a cheaper supplier. However, the supplier never received the full amount that Price was billed after he filled the order.

The government customers were the Ohio Department of Transportation and the Ohio Department of Rehabilitation and Corrections.

A federal grand jury indicted Price on 35 counts of money laundering and wire fraud totaling more than $1 million.

After the July crash, prosecutors asked a judge to revoke his bail. A prosecutor wrote that Price was also charged in May with driving a Lamborghini at 129 mph in a 65 mph zone.

Previous drug tests on Price in June returned a positive result for methamphetamine, and another test in a custody case returned positive results for cocaine and methamphetamine.

A new charge of obstruction of justice is also possible against Price. According to prosecutors, a phone call to the prison was recorded in March in which he asked his family to delete his iCloud account.

Judge Kimberly A. Jolson ordered Price remanded in custody on August 1, and he is currently being held in the Franklin County Jail. His trial is currently scheduled for November 12.