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Fabio on Crash: Gimme a Brake

4/12/2009 3:54 PM PDT BY TMZ STAFF

Fabio clearly no longer has the Midas touch. He insists the cause of yesterday's Ferrari crash was brake failure.

Fabio

A rep for Fabio just gave us a jingle, claiming Mr. F was driving the $300,000 Ferrari 599 GTB Fiorano during a sanctioned event for World Class Driving, when he hit the brake pedal on the dreaded Mulholland Drive and... nothing.

And Fabio's rep says there's a witness -- an unnamed passenger in the car who heard Fab scream "I have no brakes," and then... crash.

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