On July 28, 2002, about 1300 eastern daylight time, a Boeing E75, N1242V, registered to Cordes Aircraft, and operated as a Title 14 CFR Part 91 personal flight, burned in a field following an attempted emergency landing. Visual meteorological conditions prevailed, and no flight plan was filed. The commercial-rated pilot and one pilot-rated passenger received minor injuries, and the airplane was destroyed. The flight was originating at the time of the accident. The pilot stated to an FAA inspector that he was taking off from a private airport near Leesburg, Florida, and during the initial climb, while at an altitude of about 100 feet, the engine coughed, sputtered, and started to cease operating. He said he turned the airplane to the right to avoid a tree while executing an emergency landing, and in the process, the right wing tip and landing gear contacted the ground causing the airplane to cartwheel. He said that the engine then "dug in", flipping the airplane on its back, and leaking fuel contacted the exhaust, starting a fire, which destroyed the airplane. On August 15, 2002, an FAA inspector examined the accident airplane at the pilot/owner's facility and noted that there had been extensive fire damage to the airframe, the flight controls, and the engine. The inspector stated that during his examination he could not find anything obvious that may have caused the engine problem.