Rap mogul Marion "Suge" Knight was arrested on a murder charge early Friday morning in a fatal hit-and-run in Los Angeles.

Sgt. Diane Hecht of the Los Angeles County Sheriff's information office said Knight is being held at the West Hollywood sheriff's station on $2 million bail.

Knight turned himself in to authorities after his attorney, James Blatt, said the rap mogul ran over and killed a friend and injured another man following an altercation.

"We are confident that once the investigation is completed, he will be totally exonerated," Blatt told the Associated Press by phone late Thursday.

But police tell a different story.

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A rep for the Los Angeles County Sheriff's Department told FOX411 that Knight got into an argument on a film set, reportedly while working on the upcoming film "Straight Outta Compton," a biopic about the rap group NWA. Police say he then with went to a nearby restaurant about 20 minutes later where the hit-and-run later occurred. 

Capt. John Corina told reporters Knight followed the men to the restaurant in a red truck and ran them over in the parking lot shortly before 3 p.m. local time in Compton, Calif., on Thursday. Witnesses told The Los Angeles Times the truck hit the men, then backed over them before fleeing the scene. The incident is being investigated as a homicide.

"The people we talked to say it looked like it was an intentional act," Corina told reporters.

Knight's attorney insisted it was an accident.

“…In an effort to escape [being attacked] he unfortunately hit two individuals," Blatt said. "He was in his car trying to escape."

The empty truck was found late Thursday night in a West Los Angeles parking lot, Corina said.

Police told FOX411 the injured 51-year-old man was taken to a hospital and he is "expected to survive his injuries."

Both men's names were not immediately made available to the press. 

Knight co-founded Death Row Records with Dr. Dre in 1991 and built it into the first successful mainstream rap label behind acts like NWA, Snoop Dogg, and Tupac Shakur. Knight was at the wheel of the BMW Shakur was riding in when he was shot and killed following a boxing match in Las Vegas in 1996. Tupac's death resulted in an exodus of artists from the label, and Knight was eventually forced to declare bankruptcy and auctioned off the company. 

Knight has had repeated confrontations with the law. In 1997, he was sentenced to nine years in prison for violating the terms of his probation in an earlier assault case. He was released in 2001. In 2008, he was arrested in Las Vegas on suspicion of drug possession and aggravated assault and pleaded guilty to a charge of misdemeanor battery the following year. He is currently awaiting trial alongside comedian Katt Williams on charges of second degree robbery in connection with the theft of a photographer's camera.

Fox News' Leora Arnowitz and The Associated Press contributed to this report.