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Used Yachts For Sale Under $25,000,000

191' Trinity Yachts Custom 2009

$ 24,950,000

Dania Beach, United States

137' Feadship Custom 1982

$ 24,932,000

Monaco, Monaco

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141' Overmarine-Mangusta Oceano 43 2021

$ 24,823,600

Imperia, Italy

155' Sunseeker 155 2016

$ 24,750,000

Palm Beach, United States

164' Trinity Yachts Trinity 164 2011

$ 24,500,000

Palermo, Italy

170' Amels 2004

$ 23,900,000

Corfu, Greece

145' Sanlorenzo 44 Alloy 2020

$ 23,750,000

Fort Lauderdale, United States

130' Extra Yachts X130 TRIPLEX 2026

$ 23,306,000

Ancona, Italy

165' Naval Yachts 2025

$ 22,764,000

West Palm Beach, United States

170' Benetti Custom 2008

$ 22,500,000

Nassau, Bahamas

156' Delta Marine Custom 2011

$ 21,950,000

160' Trinity Yachts 2000

$ 21,900,000

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Finding a used yachts for sale under $25,000,000 that fits your needs when it comes to number of passengers, horsepower, inside accommodations, and other features on board can be a challenge with so many options available on the market today. There are many types of boats available under $25 million like luxury  motor yachts , with many good options across all length ranges. Still, there are plenty of opportunities with brands like  Princess ,  Benetti ,  Westport ,  Trinity Yachts , and others. Let the team at United Yacht Sales help you find the right vessel that fits your needs under $25 million.

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20 Million Dollar Yachts

Find the perfect 20 million dollar yacht for sale.

Indulge in the epitome of maritime luxury with our exclusive selection of $20 million yachts for sale. These exceptional vessels represent the zenith of yachting sophistication, combining cutting-edge technology with exquisite design and unrivaled craftsmanship. Each yacht in this distinguished class offers expansive, elegantly appointed interiors, featuring opulent staterooms, state-of-the-art entertainment systems, and gourmet kitchens designed for the finest culinary experiences. The outdoor spaces are equally impressive, boasting spacious decks, luxurious lounges, and stunning amenities such as infinity pools and hot tubs, perfect for both relaxation and entertainment. Designed for those who demand nothing but the best, a $20 million yacht from our collection promises an extraordinary lifestyle of comfort, elegance, and adventure on the high seas.

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Used Yachts For Sale Above $10,000,000

Listed below are used yachts for sale worldwide above $10,000,000. Use the search tools to narrow your exploration. SYS Yacht Sales offers a wide range of luxury used yachts for sale, including mega yachts, long range cruisers, motor yachts, trawlers, express cruisers, center consoles, sailboats and everything in between. Search world-renowned manufacturers like Trinity, Horizon, Hargrave, Benetti, Trinity, Sunseeker, Princess, Westport and much more. Need assistance? Contact our experienced yacht brokers. We look forward to helping you find the yacht that's right for you.

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Royal Denship 209 Royal Denship Expedition

Sarp Yachts NACRE 62

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Amels Fully custom

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Feadship 60m

Lady beatrice.

Metalships 59m

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Feadship 1986

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Alloy Yachts Flybrige ketch

Delta Marine Tri-Deck

Oceanfast Full Displacement

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Dynamiq Global 550

ISA Classic 57

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Used Yachts for Sale Between $1000000 and $1500000

If you're looking for a pre-owned yacht for sale between $1 million and $1.5 million, SI Yachts has the expertise to assist you in choosing the perfect boat for your requirements. Whether heading offshore to hunt for billfish or cruising the east coast, there are many options available on the yacht brokerage market. This is where the personalized customer service and knowledge our team proves valuable to you as the customer.

Boats for sale under $1.5 million dollars online include brands like Azimut Yachts , Bertram Yachts , Ferretti Yachts , Galeon Yachts , Hatteras Yachts , Prestige Yachts , Sea Ray , Sunseeker Yachts , Viking Yachts , and more! From New York, to Florida, and beyond, SI Yachts can assist you in the purchase or sale of a boat under $1.5 million. We look forward to earning your business! Contact us today at [email protected] or by calling one of our convenient locations . SI Yachts are also Licensed Florida Yacht Brokers.

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Watch CBS News

Here's what to know about Mike Lynch, the tech tycoon missing in the Sicily yacht disaster

By Aimee Picchi

Edited By Anne Marie Lee

August 20, 2024 / 12:19 PM EDT / CBS News

Mike Lynch, once hailed as "Britain's Bill Gates," is now among the six people missing after his luxury yacht sank in a violent storm off the coast of Sicily. At the time of the disaster, Lynch had been trying to shake more than a decade of legal entanglements that ended in June when he was cleared of fraud and conspiracy charges . 

Lynch, 59, rose to prominence in the late 1990s with the development of his software company, Autonomy, which helped businesses quickly find information buried in email and other digital documents. In 2011, Lynch sold the business to Hewlett-Packard for $11 billion, giving him a $800 million payday and cementing him as one of the U.K.'s richest people. 

But the acquisition was later called one of the "most notorious failed mergers and acquisitions" after HP discovered alleged accounting issues, leading to Lynch's firing by HP's then-CEO, Meg Whitman. HP claimed that Autonomy had used accounting improprieties to bolster its underlying financials ahead of the acquisition, charges that Lynch steadfastly denied. 

The case stretched into a 12-year legal fight that ended in June 2024 when a federal court jury in San Francisco delivered not-guilty verdicts.

"I am looking forward to returning to the U.K. and getting back to what I love most — my family and innovating in my field," Lynch said in a statement after the verdict.

Here's what to know about Lynch. 

What company did Mike Lynch start?

Lynch, who earned a PhD in mathematical computing from the U.K.'s Cambridge University, first cofounded a company called Cambridge Neurodynamics, based on the cofounders' work with pattern recognition. The firm used the tech to match fingerprints and car license plates, according to a 1997 article in The Guardian.

From there, Lynch cofounded Autonomy in 1996, which relied on a statistical model called Bayesian inference, named after a theorem developed by the 18th century statistician Thomas Bayes. (Lynch's luxury yacht was christened the "Bayesian.")

The company tapped into the growing need of businesses to sort through and find information within the vast reams of data created by the increasing use of computers and digital documents.

Autonomy's steady growth during its first decade resulted in Lynch being awarded one of the U.K's highest honors, the Office of the Most Excellent Order of the British Empire in 2006.

Lynch told The Guardian in 1997 that people didn't quite believe that a growing tech business could emerge from the U.K. 

"I have actually heard the comment, 'England, software? I thought you made bone china,'" he told the newspaper. 

What happened after Autonomy's acquisition by HP?

At first, HP celebrated the purchase as a huge coup that would propel the Palo Alto, California, company down a promising new path, but then quickly came to regret it under then-CEO Meg Whitman.

HP claimed it found accounting irregularities, and the company ended up recognizing $8.8 billion in losses in the Autonomy deal. Whitman eventually fired Lynch in 2012, while also laying off thousands of workers as HP's fortunes sagged. 

Throughout the past 12 years, Lynch rejected the allegations. He told the Wall Street Journal in 2012 that he was "ambushed" by the claims, which he described as "completely and utterly wrong."

What happened with Mike Lynch's legal case?

Lynch maintained his innocence while testifying earlier this year before a jury during a 2 1/2 month trial in San Francisco. U.S. Justice Department prosecutors called more than 30 witnesses in an attempt to prove allegations that Lynch engaged in accounting duplicity that bilked billions of dollars from HP.

The jury, as noted above, delivered not-guilty verdicts in June, vindicating Lynch, who pledged to return to the U.K. and to find new ways to innovate. 

Who is Mike Lynch's wife? 

Mike Lynch is married to Angela Bacares, who is one of the people rescued from the Mediterranean after the yacht sank. Lynch and Barares have two daughters. One of them, Hannah, 18, is among the missing, according to the BBC. 

Bacares, 57, owns shares in Darktrace, a British cybersecurity company she and Lynch co-founded, the Sun noted . She sat in the front row of the courtroom during her husband's trial, but generally has preferred to stay out of the public eye, the Times of London reported in July.

"We made the decision that Angela would not be involved in the case. She stayed completely separate. Her focus was the family and children," Lynch told the Times last month.

— With reporting by the Associated Press.

Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.

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Sec charges russell todd burkhalter and his atlanta-based firm with $300 million ponzi scheme and obtains emergency relief.

For Immediate Release

Washington D.C., Aug. 14, 2024 —

The Securities and Exchange Commission today announced that it obtained a preliminary injunction, asset freeze, and other emergency relief against Atlanta-based Drive Planning LLC and its founder and CEO, Russell Todd Burkhalter, to halt a $300 million real estate Ponzi scheme impacting more than 2,000 investors. Additionally, a receiver was appointed over Drive Planning. The SEC alleges the defendants misappropriated millions of dollars of investor funds to fund Burkhalter’s lavish lifestyle and to make Ponzi-like payments.

“Drive Planning and Burkhalter gained the trust of everyday people and encouraged them to invest in this scheme by promising exorbitant returns, but as our complaint alleges, the defendants’ business was nothing more than a classic Ponzi scheme, using new investor money to pay returns to existing investors, with Burkhalter stealing millions to fund a lavish lifestyle,” said Nekia Hackworth Jones, Director of the SEC’s Atlanta Regional Office. “Investors should be vigilant when they encounter aggressive sellers who make over-the-top sales pitches and promise high rates of guaranteed returns.”

The SEC’s complaint alleges that, from 2020 through at least June 2024, Drive Planning and Burkhalter raised more than $300 million for purported real estate investments, telling investors their money would be used to fund land development projects. The defendants promised 10% interest every 3 months and encouraged investors to tap their savings, retirement accounts, and even open lines of credit to invest. In reality, the defendants did not have a business capable of generating the promised returns, and they instead used investor funds to make Ponzi-like payments, according to the complaint. The complaint further alleges that Burkhalter stole investor funds to fund his luxurious lifestyle, including to buy a $3.1 million yacht and spending $4.6 million on chartering private jets and luxury car services and $2 million on a luxury condo. 

The SEC’s complaint, filed in the U.S. District Court for the Northern District of Georgia, charges Drive Planning and Burkhalter with violating the antifraud provisions of the federal securities laws. In addition to the emergency relief granted by the Court, which the defendants did not oppose, the SEC seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties against the defendants, and an officer-and-director bar against Burkhalter. The complaint also names Jacqueline Burkhalter, Burkhalter’s spouse, and several related entities as relief defendants and seeks disgorgement of ill-gotten gains from them.  

The SEC’s ongoing investigation is being conducted by Austin Stephenson and Cody Turley, under the supervision of Peter Diskin and Justin Jeffries, of the SEC’s Atlanta Regional Office. The SEC’s litigation will be led by Pat Huddleston and H.B. Roback, under the supervision of M. Graham Loomis.

Last Reviewed or Updated: Aug. 14, 2024

Jeff Bezos has hosted Bill Gates, Ari Emanuel, and other business tycoons and celebrities on his stunning $500 million yacht

• Jeff Bezos' megayacht has played host to several celebrities since setting sail last year.
• Bezos and his fiancée, Lauren Sánchez, held their star-studded engagement party on the yacht in 2023.
• There are some of the big names who have boarded Koru.

Jeff Bezos' megayacht has only been sailing on the open seas for a little more than a year, but the $500 million spectacle has already wracked up an impressive guest log of A-list visitors.

The Amazon founder has hosted fellow billionaires , reality TV stars, and Academy-award winners on his 417-foot vessel.

Here are some of the big names who have enjoyed Koru alongside Bezos.

Bezos did not respond to a request for comment from Business Insider.

Leonardo DiCaprio

Hollywood hotshot Leonardo DiCaprio is a repeat sailor on Koru.

Bezos hosted an August 2023 party aboard the yacht to celebrate his engagement to Lauren Sánchez, and DiCaprio was in attendance, Page Six reported at the time.

DiCaprio was back on the big boat earlier this month, but this time, he was joined by his 26-year-old girlfriend, Vittoria Ceretti, according to the tabloid .

Representatives for DiCaprio did not respond to BI's request for comment.

Katy Perry and Orlando Bloom

Katy Perry and Orlando Bloom enjoyed an Italian summer while sailing on Koru earlier this month.

The singer-actor couple were both in attendance at Sánchez's 50th birthday party in 2019, according to Page Six.

Perry and Bloom also joined Bezos and Sánchez in Croatia last year , as did Usher.

The "Woman's World" singer and her "The Lord of the Rings" partner were back on Koru with Bezos, Sánchez, DiCaprio, and Ceretti this month, Page Six reported.

Representatives for Perry and Bloom did not respond to BI's request for comment.

Microsoft founder and billionaire Bill Gates enjoyed Koru's amenities when he attended Bezos and Sánchez's August 2023 engagement party.

Gates was accompanied by his girlfriend, Paula Hurd. The couple was spotted in paparazzi photos lounging on the yacht's deck.

Representatives for Gates did not respond to BI's request for comment.

Kim Kardashian and Kris Jenner

Multiple members of the famous reality TV family have hitched a ride aboard Koru.

Kim Kardashian spent time on the megayacht with Bezos and Sánchez earlier this summer as Koru traversed the Aegean Sea near Greece, People reported.

The SKIMS founder's mother, Kris Jenner, and her boyfriend, Cory Gamble, were also on board earlier this month, according to the outlet.

Jenner also attended Bezos and Sánchez's August 2023 engagement party on Koru. The Kardashian matriarch posted a photo of herself sitting next to Sánchez celebrating the engagement.

Representatives for Kardashian and Jenner did not respond to a request for comment from BI.

Wendi Murdoch

Entrepreneur and investor Wendi Murdoch snagged an invite to Bezos and Sánchez's 2023 engagement party aboard Koru, Page Six reported at the time.

Rupert Murdoch's ex-wife was photographed on the yacht in conversation with Gates.

BI reached out to Murdoch for comment.

Whitney Wolfe Herd

Bumble co-founder and billionaire Whitney Wolfe Herd was among Sánchez's female friends who helped celebrate her engagement on Koru last year, BI previously reported.

Herd appeared in photos on Sánchez's Instagram from August 2023.

BI reached out to Herd on Instagram for comment.

Ari Emanuel and Sarah Staudinger

Fashion designer Sarah Staudinger and her husband, Ari Emanuel , CEO of entertainment agency Endeavor, also attended the star-studded engagement party last year.

Staudinger appeared in photos on Sánchez's Instagram presumably taken on Koru from around that time.

Emanuel did not immediately respond to a request for comment. BI was unable to reach Staudinger for comment.

Tobey Maguire and Andrew Garfield

The two Spiderman actors reportedly attended Bezos and Sánchez's engagement party on Koru last August, Page Six reported at the time.

Representatives for Maguire and Garfield did not respond to BI's request for comment.

Rania Al Abdullah (The Queen of Jordan)

Queen Rania of Jordan was also a reported guest at Bezos and Sánchez's 2023 engagement party, according to Page Six.

BI reached out to Queen Rania's foundation for comment.

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Morgan Stanley International chairman among missing from sunken yacht, reports say

Jonathan Bloomer, the chairman of Morgan Stanley International, was on Monday night reported to be among the missing from the sunken yacht Bayesian.

He was confirmed missing by Italian authorities, according to The Times.

Mr Bloomer is a close friend of Mike Lynch, the owner of the yacht, who is also missing alongside his 18-year-old daughter Hannah.

Salvatore Cocina, head of the Civil Protection in Sicily, said Chris Morvillo, a lawyer at Clifford Chance, was also missing.

The vessel is thought to have been hit by a tornado while anchored off Sicily. 

Four of the missing passengers are British and two are American, Italian newspaper la Repubblica stated. Italian media said the man who died was the yacht’s onboard chef.

Mr Lynch’s US fraud trial, which ended two months ago with him being cleared by a San Francisco jury, saw Mr Bloomer take the stand as he had led the audit committee at Mr Lynch’s firm Autonomy.

It was alleged that he had overseen fraudulent accounting at Autonomy that wildly inflated the former FTSE 100 company’s value before it was sold to Hewlett-Packard for $11 billion (£8.7 billion) in 2011.

Mr Bloomer claimed that Mr Lynch had largely ignored Autonomy’s accounting, in evidence which was critical to his defence.

Mr Bloomer claimed: “Mike was mostly interested in the strategy, new products, new areas to look at, potential acquisitions.

“For example, he didn’t come to the audit committee and wasn’t particularly interested in the finance side.”

According to his Linkedin profile, Mr Bloomer is currently the chairman of insurance provider Hiscox and was the chief executive of Prudential before being ousted in a boardroom coup in 2005 following the dotcom crash.

Live Reporting

Related stories, lawyer and chairman among those missing.

Salvatore Cocina, head of the Civil Protection in Sicily, said Chris Morvillo, a lawyer at Clifford Chance and Jonathan Bloomer, chairman of Morgan Stanley International, were also among the missing people.

Meanwhile, Italian media said the man who died was the yacht’s onboard chef.

Did Bayesian superyacht’s 237ft mast cause it to sink?

Bayesian’s 237ft metal mast may have played a part in the sinking of the superyacht off the coast of Sicily, experts have suggested.

The yacht, seemingly named after the mathematical theory which Mike Lynch used to make his millions in the tech industry, foundered in the small hours of Monday morning.

Key among potential reasons for the loss of the vessel will be its most striking feature – the aluminium mast.

Read our latest here

British inspectors deploy to Sicily

Britain’s Marine Accident Investigation Branch said four of its inspectors were being deployed to Palermo.

A basic assessment of the scene will be made by the team with no investigation launched at this stage, the PA news agency understands.

Lynch’s co-defendant in fraud trial died in car crash on weekend

Mike Lynch’s co-defendant in his US fraud trial died in a road accident on Saturday days before the tycoon went missing off the coast of Sicily.

Stephen Chamberlain was hit by a car during the accident over the weekend in Cambridgeshire.

Chamberlain faced the same charges of fraud and conspiracy as his former boss Lynch for allegedly scheming to inflate the value of his company Autonomy before it was sold to Hewlett Packard.

A source told The Telegraph: “Our dear client and friend Steve Chamberlain was fatally struck by a car on Saturday while out running.

“He was a courageous man with unparalleled integrity, and we deeply miss him. He fought successfully to clear his good name, which lives on through his wonderful family.”

Pictured: Search mission continues

‘A holiday day at sea turned into a tragedy’

“At around 4:30 in the morning it was gone. A beautiful vessel where there had been a party. A normal holiday day spent happily at sea turned into a tragedy,” a witness told Italian news agency ANSA. 

He continued: “The vessel was not far from the port. It would have taken very little to raise the anchor and head for the port. Evidently they were surprised by the storm that suddenly hit and they were unable to avoid the sinking.”

Rescue operation will continue overnight

The rescue operation for the missing six passengers will continue overnight, Salvo Cocina of Sicily’s civil protection agency has said.

A specialist caving search and rescue diving team has also arrived and hoped to “achieve results” overnight or early tomorrow morning, the BBC reported. 

Pictured: Survivors leave the Porticello Coast Guard headquarters

Superyacht guests were celebrating Mike Lynch’s acquittal when disaster struck

Guests were celebrating the acquittal of Mike Lynch, the British tech entrepreneur, on the superyacht Bayesian when the vessel sank off the coast of Italy.

Mr Lynch had gathered guests from Clifford Chance, the legal firm, and Invoke Capital, his own company, after being cleared in June of fraud over the multi-billion-dollar sale of Autonomy.

He was found not guilty on all counts of an accusation of inflating the value of the company, which he sold to the US tech giant Hewlett-Packard for £8.6 billion in 2011.

Read the full story here

‘We should have found something by now’

Francesco Venuto, the spokesman for Sicily’s civil protection agency, has told the BBC that they “think [the missing people] must be there [in the boat]”.

“We’ve been searching all day with helicopters and boats, we’ve found nothing. That wouldn’t make sense, in these conditions we should have found something by now,” he added.

Lynch’s wife in wheelchair following incident

According to La Repubblica, Bacares is in a wheelchair, with abrasions on her feet that prevent her from walking and bandages on other parts of her body.

The newspaper said that she told doctors that at 4am the boat tilted and she and her husband woke up.

At first, they were not worried but then there was a scene of confusion as glass shattered and everything slipped.

Lynch’s 18-year-old daughter also missing

Mike Lynch’s 18-year-old daughter Hannah is among those missing in the superyacht sinking, The Telegraph understands.

Italian media early reported that Angela Bacares, Mr Lynch’s wife, told doctors that her husband and daughter were missing.

Pictured: Previous waterspouts and tornados in Italy

A downburst reported near Sicily in 2018

A tornado reported at Licata, Sicily, in 2021

A waterspout in Apulia, Italy, in 2024

‘In the wrong place at the wrong time’

The boat sank after a tornado over the water known as a waterspout struck the area overnight, said Salvo Cocina of Sicily’s civil protection agency. One body has been recovered, and police divers were trying to reach the hull of the ship, which was resting at a depth of 50 meters (163 feet) off Porticello, near Palermo, where it had been anchored.

The Italian coast guard said the yacht had a crew of 10 people and 12 passengers.

A sudden fierce storm had battered the area overnight, and struck where the 56-meter (184-foot) British-flagged Bayesian had been moored. “They were in the wrong place at the wrong time,” Cocina said, noting that another superyacht nearby wasn’t as badly damaged and was able to rescue some of the 15 survivors.

Who is Mike Lynch? Britain’s ‘Bill Gates’ who was acquitted of £8bn fraud just two months ago

Just weeks ago, Mike Lynch was walking out of a San Francisco courtroom a free man with tears in his eyes.

The technology tycoon known as “Britain’s Bill Gates” had improbably beaten the odds in a bitter US legal dispute with technology giant HP, convincing a jury that he was not guilty of claims of massive fraud.

Cleared after a 13-year legal fight, the entrepreneur vowed to fight to reform Britain’s extradition laws after he was flown to San Francisco to face trial and kept under house arrest.

Read the full profile here

Pictured: Rescue teams search the water

Pictured: A diver leaps into the sea during search for victims

‘I held her afloat with all my strength’: British mother describes rescuing her baby from drowning

Among the 15 survivors is a one-year-old British baby called Sofia who was saved by her mother, Charlotte Golunski.

Ms Golunski, an Oxford graduate and senior associate at Invoke, had fought to prevent her child from drowning. While all around her she could hear the screams of the terrified passengers and crew, she kept her grip on her baby to stop her from slipping beneath the waves.

The child’s mother told Republicca, the Italian newspaper: “I held her afloat with all my strength, my arms stretched upwards to keep her from drowning. 

“It was all dark. In the water I couldn’t keep my eyes open. I screamed for help but all I could hear around me was the screams of others.”

Mike Lynch was awarded an OBE for services to enterprise

Mike Lynch was made an OBE for services to enterprise in 2006. 

That same year, he was appointed to the board of the BBC, and was later elected to then-prime minister David Cameron’s council for science and technology in 2011.

He advised Mr Cameron on subjects including “the opportunities and risks of the development of artificial intelligence and the government’s role in the regulation of these technologies”.

Mr Lynch is among six tourists missing after the luxury yacht sank in bad weather off the coast of Sicily, sources said.

Four of the missing passengers are British and two are American, Italian news website la Repubblica stated.

UK’s Marine Accident Investigation Branch sending team

The UK’s Marine Accident Investigation Branch is sending a team of four inspectors to conduct a “preliminary assessment” into the sinking of the Bayesian, a government spokesman said.

The Bayesian was registered in London and flew the Red Ensign, meaning UK authorities will be involved in the investigation into why she foundered.

Specialist divers are being flown to Sicily from the Italian mainland

Specialist cave divers are being flown to Sicily from the Italian mainland to assist in the search for survivors of the superyacht as hopes fade of finding any of the six alive.

Luca Cari, spokesman for the firefighting service, told The Telegraph firefighter divers from Palermo and the Sardinian towns of Cagliari and Sassari had been working tirelessly at a depth of 50 metres since the early hours of Monday morning when the alarm was sounded.

But Mr Cari said the spaces inside the luxury yacht were so small that specially trained cave divers and their equipment were required to access the cabins.

“We are working non-stop with our divers and our helicopter.  But we are talking about very small confined spaces inside the yacht so we need the specialist cave divers and their equipment,” he said.

He declined to say whether divers had identified bodies through the portholes of the sunken yacht but said as time went on it was increasingly unlikely that the firefighters would find any more survivors.

Divers search for bodies after superyacht sinks in Sicily

Divers involved in the rescue operation for the missing passengers of the Bayesian have been captured entering the water as part of the search effort. 

Three divers in orange wetsuits are seen in the water off the coast of Sicily before they commence an underwater search for those that are missing. 

Mike Lynch has been called the ‘British Bill Gates’

Mike Lynch, the British technology tycoon, is one of six tourists missing in a superyacht sinking. 

Mr Lynch founded software giant Autonomy in 1996, and made his name as one of Britain’s most influential entrepreneurs through the company.

He has been described at points as the Bill Gates of Britain, for founding the company which became one of the biggest enterprise software firms on the planet.

He negotiated an 11 billion dollar (£8.64 billion) sale of Autonomy to Hewlett Packard, which generated a more than 800 million US dollar windfall for him.

But the sale also kicked off a 13-year legal saga. It was only in June this year that Mr Lynch was cleared of charges alleging he orchestrated a fraud and conspiracy leading up to the deal, which turned into a costly albatross for HP.

He faced more than 20 years in US prison if convicted of the fraud and conspiracy allegations, and the Times reported that he spent 13 months under house arrest awaiting the trial that ended in June.

Bayesian superyacht specs

The Bayesian is 56 metres long (183ft) and has a 75m (246ft) long mast.

The vessel was in front of the port of Porticello, in the province of Palermo, when the severe weather struck. 

Its anchor was down and the strong gust would have caused the vessel to lose balance which is believed to have led to the shipwreck.

Who is Mike Lynch?

Mr Lynch, 59, founded the software company Autonomy in 1996 and became one of Britain’s most high-profile businessmen when he sold it to Hewlett Packard for £7bn in 2011.

He spent more than a decade seeking to clear his name after HP accused Autonomy executives of illegal accounting practices in 2012.

Mr Lynch was charged with fraud in the US in 2018 and was found not guilty in June in a stunning legal victory. He had only recently returned to the United Kingdom and had planned to defend wrongfully convicted Britons.

Ms Bacares holds much of his fortune. The couple have had two daughters, who are 21 and 18.

Survivor leaves coast guard headquarters after sailboat sank off Sicily

A survivor leaves the coast guard headquarters after a superyacht sank at around 5am in front of Porticello in the province of Palermo on Monday.

The 50-metre vessel reportedly had mostly British nationals on board and 15 people were saved by coast guard patrol boats and firefighters, including a one-year-old child.

Earlier today the coast guard issued a statement saying it had rescued 15 people from the yacht that had 22 people onboard. 

The term Bayesian explained

The term Bayesian refers to a branch of statistics pioneered by Thomas Bayes, an 18th century mathematician and vicar.

Much of modern artificial intelligence and computer analysis is underpinned by Bayesian inference, which involves updating the probabilities of various scenarios based on ongoing evidence.

The statistical model was crucial to Autonomy’s technology, which searched through large amounts of corporate data to find information.

In 2021, Mike Lynch said that: “Bayes deserves far more historical credit for the place he occupies among the forefathers of information theory”

Mr Lynch has often used playful naming conventions. Conference rooms at Autonomy were named after James Bond villains, another interest of his, while his dogs have named after engineering terms such as Valve, Tappet and Switch.

Doctor describes mother’s ordeal

Dr Domenico Cipolla, head of emergency room at the Giovanni di Cristina paediatric hospital in Palermo, has described the experience of Charlotte, the British mother who was onboard the Bayesian when it sank. 

DrCipolla said: “She told me that while they were sleeping, at a certain point the yacht overturned due to the tornado, and they found themselves in the water. 

“Some of them immediately managed to get onto the lifeboat. And some, evidently, didn’t make it.

“She told me that she was in the water for no more than two, three seconds, and she managed to save the baby, to keep her arms up, and then, with the others, they were able to get on the lifeboat, and then, I think, they were rescued by the coast guard.

“They are all in good condition. We managed to get the parents to talk (to each other) on the phone, all the doctors and nurses were all very moved, also because the little girl is fine, the prognosis is good and we are carrying out tests just to be careful.”

British tech entrepreneur Mike Lynch missing in superyacht sinking

British tech entrepreneur Mike Lynch is missing after the sinking of a superyacht off the coast of Sicily, The Telegraph understands.

Watch: Captain who rescued passengers from yacht sinking interview

The captain who rescued passengers from the Bayesian has spoken to media about the ordeal.

Captain of another boat describes saving 15 Bayesian passengers

The captain of a nearby boat that rescued the 15 people has described the conditions in which the Bayesian sank last night.

Karsten Borner said his own vessel, the Sir Robert BP, was battered by very strong gusts in the early hours of the morning, managing to stabilise it while anchored by using the engine.

He said as they were doing this, they noticed the Bayesian nearby and manoeuvred to avoid hitting it.

“We managed to keep the ship in position, and after the storm was over, we noticed that the ship behind us was gone.”

Details of the superyacht

The Bayesian is 56 metres long (183ft) according to ship tracking website VesselFinder.

The luxury super yacht is said to have a 75m (246ft) long mast.

She was built in 2008 by Italian company Perini Navi with an initial asking price of 35 million euros (£30 million) according to Nautic Link. 

According to the leasing company Yacht Charter Fleet, the boat is furnished with a “Japanese-style” interior.

It has been designed to accommodate up to 12 guests in six suites, along with ten crew members.

The Bayesian was awarded the best exterior styling at the 2009 World Superyacht Awards.

Male body recovered, Vigili del Fuoco confirms

Vigili del Fuoco,  Italy’s fire and rescue service, has confirmed a male body has been recovered from the yacht.

In a post on X, it said the “lifeless body of a man recovered [has been] from the wreck by the divers.”

It posted the statement alongside a clip of the rescue effort with footage showing helicopters, boats and divers carrying out a search operation.

#Palermo , naufragio imbarcazione a Porticello: recuperato dai #sommozzatori dei #vigilidelfuoco il corpo senza vita di un uomo, all'esterno del relitto. Proseguono le operazioni di ricerca con il coordinamento in mare della @guardiacostiera [ #19agosto 11:30] pic.twitter.com/Y2m9o5ohCe — Vigili del Fuoco (@vigilidelfuoco) August 19, 2024

Four Britons missing after yacht sinks off Sicily

One person has died and four British nationals are missing after a yacht sank off the coast of Sicily, Italian media has reported.

The 50-metre boat, which is called the “Bayesian”, sank at around 5am in the stretch of sea in front of Porticello in the province of Palermo.

The vessel reportedly had mostly British nationals on board and 15 people were saved by coast guard patrol boats and firefighters, including a one-year-old child.

One-year-old survivor called Sofia, local media reports

The one-year-old English girl who was saved from the shipwreck has been named as Sofia, local media reports. 

Map: The superyacht’s journey before it sank

The Bayesian sank at around 5am in the stretch of sea in front of Porticello in the province of Palermo.

Below is a map of its journey before it went down. 

A mother saved her one-year-old from drowning, local media reports

A mother has told of how she kept her one-year-old daughter alive after a yacht sank off the coast of Sicily.

Charlotte, a survivor of the incident said her child is now being treated in the Di Cristina hospital, in Palermo, following the ordeal in which the Bayesian sank due to severe winds. 

The mother, who is said to be a British tourist, told la Repubblica, a local news website: “I held her afloat with all my strength, my arms stretched upwards to keep her from drowning. 

“It was all dark. In the water I couldn’t keep my eyes open. I screamed for help but all I could hear around me was the screams of others.” 

Charlotte said her husband James has been taken to Civico hospital in Palermo after suffering minor injuries. 

La Repubblica said that the father asked about his daughter’s health during a phone call with his wife.

According to the paper, he said: “How is the little girl? Is she there with you?”

His wife reassured him and they promised to hug each other again soon, the site reported. 

Shadow foreign minister pays tribute to those involved in incident

Alicia Kearns, shadow foreign minister for Europe, wrote on X: “Desperately sorry to hear of the capsizing of the Bayesian - a heartbreaking incident.

“My thoughts are with all the families of those lost at sea, and those recovering following the rescue operation, I’m sure the foreign office will be providing consular support to British Nationals and their families.”

Foreign Office statement

The Foreign Office said in a statement: “We are in contact with the local authorities following an incident in Sicily, and stand ready to provide consular support to British nationals affected.”

‘I saw it suddenly disappear’, says Porticello fisherman

Pietro Asciutto, a fisherman from Porticello who witnessed the sinking, told ANSA: “I was at home when the tornado hit. I immediately closed all the windows. Then I saw the boat, it had only one mast, it was very large. I saw it sink suddenly.”

He added: “I think the tornado came from Porticello. Shortly after I went down to the Bay of Santa Nicolicchia to get a better look at what was happening. 

“The boat was still floating, then suddenly it disappeared. I saw it sink with my own eyes.”

Sinking of Bayesian ‘strange’, says former chief stewardess

A former chief stewardess of the Bayesian has described news of the yacht’s sinking as “strange” because the boat had withstood the choppiest of seas.

Monica Jensen, 48, told The Telegraph: “It seems a bit strange. We have been in bad weather with it, crossed the Atlantic.

“It’s been all over. These things definitely don’t happen very often.”

Ms Jensen worked on the 56m superyacht from November 2018 to October 2020 for a private owner and said the boat had since been sold. 

She accompanied the boat on two Caribbean seasons and cruised around Italy, Malta, Greece and the Balearics.

Ms Jensen said the crew would have been well-drilled on the evacuation process.

She said: “You can’t work on a boat without the right certificates, training and you do drills monthly.”

Pictured: Emergency services carrying bodybag following shipwreck

Emergency services are pictured carrying a bodybag to shore after local media reported a man’s body had been recovered from the shipwreck off the coast of Sicily. 

Coast guard statement

The Italian Coast Guard said in a statement: “This morning at about 5am, following a violent gale, a 56-metre yacht named Bayesian and flying the UK flag sank off Porticello.

“The first shipwrecked were rescued by a boat in the immediate vicinity and brought ashore by four coast guard vessels, which promptly responded to the scene from Porticello, Termini Imerese and Palermo.

“Initial information received from the yacht crew indicated that 22 people (10 crew members and 12 passengers) were onboard the yacht.

“There are currently 15 people rescued and seven missing (one crew member and six passengers), of British, American and Canadian nationality.

“Of the people recovered, eight were transported to local hospitals. The vessel is reported to have sunk on a seabed of about 50 metres.

“The search continues unabated with naval, air and underwater resources, including the Messina Coast Guard Diving Unit.”

Mayor makes statement about incident

Filippo Tripoli, the mayor of Bagheria in Sicily, said: “This morning, off the coast of Santa Flavia, a foreign boat sunk due to bad weather, 15 people recovered and seven missing.

“Already all the police forces and emergency services are operational and our Red Cross volunteers are present.”

‘Captain should not be blamed’, says local businessman

Bartolomeo Lo Coco, who owns the Tosto Chiosco cafe in Porticello, said it was common for rental yachts and boats to sail through the fishing village, adding that the captain should not be blamed for what had occurred because the weather had been so unpredictable.

“This was a terrible misfortune that no-one could have foreseen. It is nobody’s fault, the captain should not be blamed.”

Lo Coco said Carabinieri police, coast guard and firefighters were still searching the port. He stressed that the yacht was at a depth of 50 to 60 metres.

People in ‘mourning’, says local business owner

Bartolomeo Lo Coco, who owns the Tosto Chiosco cafe in Porticello, said those in the port were in “mourning” following the deeply shocking incident.

He said no one could have predicted the storm and the whirlwind that appeared to have caused the accident.

“We are in mourning here, all of us are in mourning,” he told The Telegraph. “We have never seen anything like this, ever. There is a very serious tragedy.”

His kiosk, which serves snacks and sandwiches, overlooks the water in Porticello.

He said the whirlwind, which occurred in the early hours of Monday, had not only caused the tragic accident but also widespread damage in the port.

He added: “This wasn’t a thunderstorm, this was a whirlwind. It happened all of a sudden. There is a lot of damage here. Boats were dislodged from their moorings and restaurant tables were broken within minutes and sent flying several metres.”

Body of man recovered in search, local media reports

The body of a man has been recovered from the seabed in the search for missing people following a shipwreck off the coast of Sicily, according to il Fatto Quotidiano.

The local news website said: “A body was found and recovered by rescuers on the seabed. Firefighters and the coast guard are looking for six other passengers, while fifteen have been rescued.”

Among the survivors is a one-year-old girl who is being treated in the Civico hospital with her mother, the site said.

According to witnesses, the vessel was in front of the port of Porticello when the severe weather struck. 

The anchor was down and the strong gust would have caused the vessel to lose balance which is believed to have led to the shipwreck.

Storm in Palermo

Footage shared by the BAIA Santa Nicolicchia restaurant shows the storm hit the port.

The violent weather causes damage outside the restaurant, knocking over chairs and plant pots.

Yacht designed for luxury travel

The Bayesian was designed for luxury travel, according to local media.

Tgcom24 described the yacht as an “elegant 56-metre sailing boat” weighing 473 tons. It was said to be flying a United Kingdom flag when it sank.

The online newspaper said it was built by the Perini Navi Viareggio shipyard in February 2008, before being refitted in 2020.

The boat had arrived in Porticello after a stop in Milazzo and a passage in front of Cefalù, Tgcom24 reported.

Watch: Search underway

Aerial footage of the search has been posted on social media by Vigili del Fuoco, Italy’s fire and rescue service.

The post on X, formerly Twitter, said: “A Palermo boat wreck off the coast of Porticello, 15 people saved, seven reported missing.

“Since dawn firefighters and divers have engaged in the search. The wreck has been identified 50 metres deep.”

Vessel ‘caught middle of a hurricane’

The BAIA Santa Nicolicchia restaurant in Porticello wrote on its Facebook page that the yacht sank at around 4am after being caught in a hurricane.

They called it an “unbelievable tragedy”, adding that they were “lost for words”.

The post read: “Last picture I took at 10pm. The yacht on the left sank at 4.05am, caught in the middle of the hurricane 300 metres from the port of Porticello, next to another sailboat that provided rescue.

“It looks like there are 22 on board but unfortunately seven missing, they’re still afraid inside the hull.

“Unbelievable tragedy tonight. I’m out of words.”

Pictured: Last photo of boat

The last photo thought to have been taken of the yacht at 10pm on Sunday in Porticello.

Four Britons missing

Four Britons are reported to be missing after a yacht sank in a stretch of sea in front of Porticello.

Seven people are missing in total, including four Britons, one Canadian, two Americans and the ship’s cook.

The vessel reportedly had mostly British nationals on board and 15 people were saved by coast guard patrol boats and firefighters, including a one-year-old child.

Welcome to our live coverage

Hello, we’re bringing you the latest news after a yacht sank off the coast of Sicily. 

• Mike Lynch and teenage daughter feared dead in superyacht sinking
• Did Bayesian superyacht's 237ft mast cause it to sink?
• The dangerous storms raging around Italy as 'tornado sinks superyacht'
• Superyachts
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