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Who was onboard tech mogul Mike Lynch's Bayesian yacht?

Topic: Disasters, Accidents and Emergency Incidents

Six people are missing, including a man dubbed the British Bill Gates, after a luxury yacht sank off the Sicilian coast.

British tech entrepreneur Mike Lynch — freshly acquitted from a decade-long trial — had invited his work colleagues aboard a trip through the Mediterranean coast when a freak storm saw the yacht sink within moments.

Fifteen people escaped from the sinking vessel. The search for the missing continues.

Here's what we know so far: 

What happened?

The Italian coastguard said the yacht — the Bayesian — was anchored off the shore of port city Porticello, near the Sicilian capital Palermo, when it was hit by bad weather sometime after 4am on Monday, local time. 

Eyewitnesses said it vanished quickly beneath the waves shortly before dawn.

Managers of the sailing vessel Bayesian, Camper & Nicholsons, confirmed to the ABC that the Bayesian encountered severe weather and subsequently sank. 

"Our priority is assisting with the ongoing search and providing all necessary support to the rescued passengers and crew," they said. 

"The wind was very strong. Bad weather was expected, but not of this magnitude," a coastguard official told Reuters.

Sicily's civil protection agency head, Salvo Cocina, said a waterspout — a tornado over the water — could have struck the yacht.

"They were in the wrong place at the wrong time," Mr Cocina added. 

Storms and heavy rainfall had swept down Italy in recent days after weeks of scorching heat, lifting the temperature of the Mediterranean Sea to record levels and raising the risk of extreme weather conditions, experts told Reuters.

"The sea surface temperature around Sicily was around 30 degrees Celsius, which is almost 3 degrees more than normal. This creates an enormous source of energy that contributes to these storms," meteorologist Luca Mercalli said.

Rescuers recover the body of one of the people aboard the Bayesian.  ( AP: Lucio Ganci )

Captain Karsten Borner of the Sir Robert Baden Powell vessel told journalists he noticed the Bayesian nearby during the storm, but after it calmed he saw a red flare and realised the ship had simply disappeared.

Mr Borner said he and a crew member boarded their tender and found a lifeboat with 15 people, some of them injured, who they then took aboard and alerted the coast guard.

Search crews, including helicopters and divers, are continuing to search the wreckage, lying at a depth of 49 metres.

Specialist divers reached the ship on Monday but access was limited due to objects in the way, the fire brigade said.

The UK Marine Accident Investigation Branch is deploying a team of four inspectors to Italy to conduct a preliminary assessment.

The Foreign Commonwealth and Development office said it was "providing consular support to a number of British nationals and their families".

Sicilian prosecutors have also opened an investigation into the event. 

Who is missing?

Lawyer Chris Morvillo (left), entrepreneur Mike Lynch, and Morgan Stanley chairman Jonathan Bloomer are among the missing. 

There were 12 passengers and 10 crew members aboard the yacht. 

Mr Cocina said the crew and passengers hailed from a variety of countries, including Britain, the United States, Antigua, France, Germany, Ireland, Myanmar, the Netherlands, New Zealand and Spain.

Of the 22, one man is confirmed dead and another six people are still missing. 

They are believed to be inside the hull, fire rescue spokesperson Luca Cari said.

Fabio Cefalù, a fisherman who said he responded to a flare from the vessel but found it sunk, said he stayed at the site for three hours without finding anyone.

"I think they are inside, all the missing people," he said.

Rescue teams recovered the body of the yacht's onboard chef on Monday, identified as Antiguan citizen Ricardo Thomas.

The still missing people include: 

• Mr Lynch's 18-year-old daughter, Hannah 
• Jonathan Bloomer, chairman of global financial services company Morgan Stanley International
• Chris Morvillo , a lawyer at the British multinational law firm Clifford Chance. He worked on Mr Lynch's lawsuit against Hewlett-Packard
• The identities of the remaining two missing are still unconfirmed

Who was rescued? 

Fifteen people escaped from the sinking ship. 

Eight have been hospitalised and others were taken to a nearby hotel.

Charlotte Golunski was among those rescued, recalling the harrowing moments she held her child Sofia above the waves.  ( Supplied: Facebook  )

Among those rescued were:

• Mr Lynch's wife, Angela Bacares, who was the owner of the yacht
• Charlotte Golunski and her one-year-old daughter, Sofia. Ms Golunski is a partner at Mr Lynch's firm, Invoke Capital. She says she momentarily lost hold of Sofia in the water but managed to hold her up above the waves until the lifeboat was inflated
• Ms Golunski's husband James Emslie
• New Zealand captain of the yacht James Catfield. He told Italian newspaper La Repubblica the crew didn't see the storm coming
• A lone Dutch citizen was identified by the Dutch foreign ministry as being rescued, but was not identified

Who is Mike Lynch?

Mr Lynch, once hailed as Britain’s king of technology, was recently freed from a Silicon Valley lawsuit that tarnished his legacy. 

The 59-year-old Cambridge-educated mathematician created Autonomy , a search engine that could pore through emails and other internal business documents to help companies find vital information more quickly. 

He received the OBE for his innovation in 2006. 

He then sold the software to Hewlett-Packard (HP) for $US11 billion ($16 billion) in 2011, with Mr Lynch personally netting $US800 million. 

HP valued Autonomy at $US46 billion ($68 billion) in the months leading up to the deal.

Mike Lynch in 2019 leaving the High Court in London.  ( Reuters: Henry Nicholls/File Photo )

But the deal quickly turned sour after he was accused of forging the software's financial records to make the sale.

As part of a decades-long legal battle against HP, Mr Lynch was extradited to the UK on criminal fraud charges. 

He steadfastly denied any wrongdoing, asserting that he was being made a scapegoat for HP's own bungling. 

He was eventually cleared of all charges in June this year. 

Although he avoided a possible prison sentence, Lynch still faced a bill from a civil case in London that HP mostly won during 2022. Damages haven't been determined in that case, but HP is seeking $US4 billion. 

Following the San Francisco trial, Mr Lynch said he would return to the UK and do what he loved most: "[being with] my family and innovating in my field."

The holiday appeared to be something of a celebration after Mr Lynch's acquittal, with guests including some of the people who had stood by Lynch throughout the ordeal.

This picture shows the rescue operations off the Sicilian coast.  ( AP: Italian Coast Guard  )

In a separate act of tragedy, Mr Lynch's co-defendant in the trial, Stephen Chamberlain, died on Monday, after a road accident left him critically injured.

Mr Chamberlain — Autonomy's former vice-president of finance alongside Mr Lynch — was hit by a car in Cambridgeshire on Saturday morning and had been placed on life support. 

What is the Bayesian?

The luxury yacht is 56m long sailboat, with a 75m mast labelled as the tallest aluminium mast in the world.

It was previously named Salute when it flew under a Dutch flag.

The yacht, built in 2008 by the Italian firm Perini Navi, can accommodate up to 12 guests in six suites and a crew of 10, according to online specialist yacht sites. It was last refitted in 2020.

Online charter sites listed it for rent for up to 195,000 euros (about $AU 321,000) a week. 

This picture taken on Sunday shows the Bayesian (left) and the Duch sailboat Sir Robert Baden Powell anchored off the coast line.   ( AP: Fabio La Bianca/Baia Santa Nicolicchia )

The ship also won a string of awards for its design. 

Ms Golunski said the yacht had travelled through the Aeolian Islands, Milazzo and Cefalù before sinking. 

It is likely the yacht's name would resonate with Mr Lynch because his PhD thesis and the software that made his fortune was based on Bayesian theory.

41m superyacht OREOS launched as the latest Benetti Oasis 40M

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Written by Rachel Kelly

On a beautiful spring morning in Livorno, Benetti launched 41.1m (134’8”) OREOS , the latest superyacht in their Oasis 40M series. The launch ceremony was attended by the yacht’s owner and their representative from Yacht Moments.

Luxury yacht OREOS

The exterior design is credited to British studio RWD and features expansive three deck levels and a sturdy vertical bow. A huge aft deck flows directly to the water’s edge and features fold out sections and a glass fronted pool. Meanwhile the interiors are from American designers Bonetti/Kozerski Architecture and are reminiscent of an open New York City loft apartment.

Motor yacht OREOS

The Benetti Oasis 40M has performed exceptionally well since it was first revealed in Cannes in 2018 and has now sold 22 hulls. Technically she is constructed entirely from GRP, offers 385GT of volume, can reach top speeds of 16 knots and at a cruising speed of 12 knots has a range of 4,000 nautical miles.

Deck designs (rendered images)

After her sea trials, she will be delivered to her owner who will be able to welcome up to 10 guests on board with a 9-person crew including the captain.

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "41m superyacht OREOS launched as the latest Benetti Oasis 40M".

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Mike Lynch: British entrepreneur missing after Bayesian yacht sinks off Sicilian coast

Sky News understands the yacht is owned by the family of Mr Lynch, a tycoon mathematician who has been called the UK's first tech billionaire and the British Bill Gates.

Tuesday 20 August 2024 01:04, UK

British tech billionaire Mike Lynch is missing off Sicily's coast after a yacht sank.

One person is dead and six others are missing after a UK-flagged superyacht named Bayesian sank off the coast of Sicily in a storm .

Follow live: Superyacht sinks latest

Local media reports that Mr Lynch's 18-year-old daughter is among those missing - while his wife Angela Bacares is confirmed to be among the 15 people who were rescued.

Sky News also understands the yacht - which is believed to have been named after a mathematical equation - is owned by the family of Mr Lynch.

A recently freed man

It comes just weeks after Mr Lynch, 59, was in June cleared of all charges by a US jury in the high-profile fraud case related to the sale of his software company Autonomy to Hewlett-Packard (HP) in 2011.

Read more: Lynch's co-defendant dies after being hit by car days before yacht sinking We can learn from Lynch's extradition and unsuccessful prosecution

He had been accused of conspiracy and attempted fraud over the £8.3bn sale to HP - a deal that had been subject to costly legal action since. For more than a year he remained under house arrest while awaiting trial and spent a night in custody.

Politicians and business leaders alike protested vehemently at his extradition to the US to face charges arguing that, if there was a case to be heard, it should be heard in the UK as Autonomy was a UK-listed, UK-regulated and UK-audited company.

It was the biggest tech takeover of a FTSE 100 firm at the time - but HP wrote down £5.5bn of Autonomy's value within a year, claiming revenue streams were inflated.

A mathematician who specialised in probability, he would have been aware of the odds being stacked against him in the US trial. The vast majority of defendants agree to plead guilty to a lesser sentence.

Analysis by the Pew Research Centre thinktank suggested that, in 2022, just 0.4% of defendants in US federal criminal cases went to trial and were acquitted. Had he been convicted, he could have faced 20 years in jail.

Danny Fortson, US West Coast correspondent for The Sunday Times, who interviewed Mr Lynch just over a month ago told Sky News that after being found not guilty, the tycoon said he had been given a "second life".

"When I met him... the thing that struck me was he was in a state of shock," Mr Fortson said. "He was fighting fraud charges that threatened to put him in jail for the rest of his life for more than a decade, and he won against all the odds.

"He kept saying: 'I have a second life, I have a new lease of life' and 'I have won my freedom, and now I have got to figure out what to do with the rest of my life'.

"He was in a state of shock and real gratitude that he had put this huge case that had hung over his head behind him."

During his house arrest, My Lynch only had the company of a sheepdog called Faucet, who, Mr Fortson said, was almost "surgically attached" to the mathematician as they spent 24 hours a day together for more than a year.

"The dog was very protective of him and he obviously loved the dog very much," Mr Fortson said.

While he won the US case Mr Lynch did lose a multi-billion pound fraud action brought to the High Court by HP.

It found that HP had "substantially" succeeded in its civil case but indicated that the firm would get considerably less than the $5bn (£3.7bn) it had sought in damages.

Who is Mike Lynch?

The Serious Fraud Office looked into the acquisition but in 2015 dropped its investigation .

As a serial entrepreneur, Ilford-born Mr Lynch has been described as the British Bill Gates and the UK's first tech billionaire.

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His firefighter father was from County Cork and his mother was a nurse from County Tipperary in Ireland.

In 2023, The Sunday Times rich list valued him and his wife at £852m.

Ms Bacares is confirmed as being among the rescued.

He co-founded cyber-security business Darktrace, another former FTSE 100 company. But his connections to the company, at a time when he was facing serious charges, depressed its share price and made it vulnerable to a US private equity company takeover, Mr Lynch said.

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This prediction was proved right in April when US private equity firm Thoma Bravo agreed to a £4.2bn takeover of Darktrace.

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At Least 1 Dead and 6 Missing After Yacht Sinks Off Sicily

Fifteen other people were rescued. Expert divers were called in to carry out search operations in the deep water. Among the missing was a British software mogul, Mike Lynch.

By Elisabetta Povoledo

At least one person was killed and six others, including a British software mogul, were missing on Monday after a sailing yacht carrying 22 people sank during a violent storm off the coast of Sicily, Italian officials said.

The yacht sank after a storm “with strong winds” struck around 5 a.m., according to Luciano Pischedda, the Italian Coast Guard official overseeing the rescue operations. The vessel had been anchored about a half-mile off Porticello, about 12 miles east of the Sicilian capital, Palermo.

Camper & Nicholsons, managers of the sailing yacht, said in an emailed statement that there were 12 guests and 10 crew onboard.

The authorities have yet to determine what caused the yacht to sink. “This will be ascertained later,” Mr. Pischedda said, adding that several crew members were in the hospital and had not spoken to investigators.

Among the dead and missing, four were British, two were American, and one was a man with dual citizenship from Canada and Antigua, he said.

One of those unaccounted for is Mike Lynch, a British software mogul who was acquitted in the United States in June of fraud, according to a person with knowledge of the matter who spoke on the condition of anonymity because they were not authorized to speak publicly about it.

His wife, Angela Bacares, was rescued. Mr. Lynch, who once was described as Britain’s Bill Gates, had fought for more than a decade against accusations that he had defrauded Hewlett-Packard when he sold it his company, Autonomy, for $11 billion. The legal battle represented one of the biggest fraud cases in Silicon Valley history.

Salvatore Cocina, a top official with Sicily’s civil protection agency, said that Mr. Lynch’s daughter, Hannah Lynch, was also among the six people missing. All were passengers on the yacht, the Coast Guard said.

Mr. Cocina said the body that had been recovered was that of the yacht’s cook.

A passenger ship sailing under the flag of the Netherlands, the Sir Robert Baden Powell, anchored nearby, provided immediate assistance to the 15 surviving passengers, Mr. Pischedda said.

Karsten Börner, the captain of the Sir Robert, said in a telephone interview that he’d had to steady his ship to “keep it in position” during what he described as very strong winds. During the storm, the yacht seemed to disappear, he said. “At a certain moment she was gone behind us,” he said.

After the wind dropped down, “we couldn’t see the yacht any more, and then we saw a red flare,” he added. When he and a colleague went to check out the flare’s position, they spotted a “life raft adrift with 15 people on board, one of them a baby and four people injured,” he said. They were taken aboard the Sir Robert and Captain Börner contacted the Coast Guard, which brought the survivors to shore.

Captain Börner said he didn’t know when the ship went down because the storm made it difficult to see clearly. The wind was “really violent,” he said.

For the most part, the survivors didn’t speak much he said. “They were all under shock,” he said. “It was a bad, bad situation.”

Monday’s storm surprised experts with its intensity.

Col. Attilio Di Diodato, director of the Italian Air Force’s Center for Aerospace Meteorology and Climatology, said the agency had registered intense lighting activity and strong gusts of wind in the area at the time of the accident.

“It was very intense and brief in duration,” he said of the storm. He could not rule out that it had been a waterspout, or small tornado, but nevertheless called it “an important event.”

Italy’s firefighter corps said that its divers had started carrying out a search and rescue mission at dawn.

On Monday afternoon, expert divers with the firefighter corps arrived in Porticello to search the sunken vessel, which was under about 165 feet of water.

Operations at that depth, were “complicated,” and required specialized divers, said Luca Cari, a spokesman for the firefighters.

Fabio Cefalù, a fisherman in Porticello, told the Italian newspaper La Repubblica that he saw a waterspout — a sort of mini-tornado — that lasted “about 12 minutes” off the shore of Porticello shortly before 4 a.m.

Around 4:10, he said he saw a red flare go off “about 500 meters from the shore.” He said he waited for the weather to calm down, and went out about 20 minutes later to the site where the flare had gone off.

“We found only the cushions, and a few planks” floating in the water, he told the newspaper. There was no sign of the ship, and he immediately called the coast guard.

The boat, identified by Italian officials as the Bayesian, is an Italian-made 56-meter-long sailing yacht first launched in 2008, according to the website marinetraffic.com , which tracks ships. It sails under the flag of Britain, and was built by Perini Navi, an Italian luxury yacht maker.

Eight of the 15 passengers who were rescued were taken to hospitals in Palermo, the coast guard said. Camper & Nicholsons, the managers of the yacht, said its priority was to “provide all necessary support to the rescued passengers and crew.”

Giuseppe D’Agostino, the mayor of Santa Flavia, which includes Porticello, said the survivors would be cared for at a local hotel. The city had also brought them immediate necessities, like toiletries and clothes.

He said in a telephone interview that he had not spoken to the survivors since “they’re in shock.”

The youngest passenger onboard, a 1-year-old girl named Sophie, was taken to the Di Cristina hospital in Palermo with her mother, Charlotte, who had some scrapes and cuts, said Domenico Cipolla, director of the pediatric emergency room at the hospital.

Sophie’s father was in the hospital’s adult emergency room and had been in contact with his wife and daughter by phone, Dr. Cipolla said. He was not permitted to release the family’s surname. Both mother and child were in good condition apart from “great emotional stress” he added in a telephone interview.

“We’re comforting them more than curing them,” he said.

Michael J. de la Merced contributed reporting.

Elisabetta Povoledo is a reporter based in Rome, covering Italy, the Vatican and the culture of the region. She has been a journalist for 35 years. More about Elisabetta Povoledo

UK's Mike Lynch missing after yacht sinks off Sicily, source says

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Missing nyc lawyer shared haunting final post before vanishing on bayesian yacht with jewelry designer wife.

A top New York City lawyer who has been missing ever since the Bayesian yacht sunk off the coast of Italy Monday morning had eerily written about his family living “happily ever after” in one of his final social media posts before vanishing with wife in the shipwreck.

Christopher Morvillo, a lawyer who helped  British tech tycoon Mike Lynch  — the owner of the capsized luxury boat  and one of the six people missing — win his fraud trial, thanked the legal team who helped their success in his penultimate LinkedIn post before the tragedy. 

At the end of the eerie  post , he wrote: “And, finally, a huge thank you to my patient and incredible wife, Neda Morvillo, and my two strong, brilliant, and beautiful daughters, Sabrina Morvillo and Sophia Morvillo.” 

“None of this would have been possible without your love and support. I am so glad to be home. And they all lived happily ever after….” 

Morvillo’s wife Neda, a jewelry designer, is also one of the six passengers still missing, officials said. 

The 160-foot luxury sailboat with 22 people aboard sank off the port of Porticello when a violent storm struck at sunrise Monday, the Italian coast guard said. 

Police divers resumed their search for the missing passengers Tuesday, attempting to reach the ship’s hull some 164 feet underwater where officials believe people may be trapped. 

The search for those missing has been slow because the Bayesian now sits 50 meters below water, where divers can only stay for up to 12 minutes, fire rescue officials said in a statement Tuesday. 

Fifteen of the ship’s passengers and crew have survived, including a mother who was holding her one-year-old daughter above her head to keep her from drowning. 

One body has been recovered  and identified as the on-board chef, officials said. 

Fire officials have said the six people missing will be referred to as “missing” until they are located in the wreckage. 

In addition to the Morvillos and Lynch, the missing include Lynch’s 18-year-old daughter, Hannah, Jonathan Bloomer, a chairman at Morgan Stanley International, and Bloomer’s wife, Judy.

With Post wires

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Mike Lynch yacht: The Bayesian's owner was close to billionaire and cost an enormous sum

British entrepreneur Mike Lynch is still missing following the capsizing the yacht he was on near Sicily.

While the billionaire has yet to be found , at least one person is confirmed dead from the accident while six are reported missing. Fifteen have been rescued, including Lynch’s wife , Angela Bacares.

The luxury yacht “suddenly sank” from what’s thought to have been “terrible weather conditions”, according to NBC. Lynch, 59, is the co-creator of the software corporation Autonomy and established Invoke Capital.

• Mike Lynch yacht sinking survivors pictured for first time as search for billionaire intensifies
• Missing billionaire Mike Lynch cleared of fraud just months before superyacht sinking in Italy

How much is the yacht 'The Bayesian' worth?

The Sun reports the 56-meter sailing yacht, called Bayesian, is worth £14 million, about $18 million. The average cost to buy a super yacht, which is a yacht between 37 to 60 meters, starts at about $10 million, according to Galati Yacht Sales .

Forbes said the cost to charter the Bayesian is $215,000 for one week. The yacht was listed for sale earlier this year, though it is no longer, according to BOAT International.

Who owned the Bayesian?

The yacht is legally owned by Lynch’s wife Bacares, Forbes reported. It was built in Italy in 2008 by renowned boat builder Perini Navi.

BOAT International reports the yacht's naval architecture was developed by Ron Holland Design while the interior design is by Rémi Tessier. It was originally known as Salute until 2016 when it was retrofitted and renamed Bayesian.

When it comes to length, Bayesian is in the top 5 percent in the world. It can accommodate up to 12 guests in 6 staterooms, and it has room for 9 crew members.

It is also one of the world’s tallest, with a single mast reaching 75 meters.

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New generation 78m superyacht O'REA revealed by Golden Yachts

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By Steph Loseby   16 December 2022

Esteemed shipyard Golden Yachts has officially released a sneak preview of the 78m (254ft) superyacht O’REA , which, once delivered, is set to be an exciting new addition to the yacht charter market . Currently in build at their Perama shipyard in Greece , the yacht is described as 'the new generation of Golden Yachts.'

Completely unique and dissimilar from the designs of her sisterships, superyacht O'REA boasts a contemporary plumb bow that differs from the flared bows of previous Golden Yachts vessels such as the 84m (278ft) O'PTASIA and 71m (235ft) NATALINA A .

Penned by Studio Vafiadis, the new renderings of superyacht O'REA show the luxurious motor yacht  sporting a graceful, sleek silhouette whilst her interiors have been designed to create a warm, welcoming and effortlessly chic feel on board. 

The yacht has been “designed for the future”, with a wide range of social and dining options and endless opportunities to soak up the superyacht lifestyle. Notably, one of the vessel's standout features is her extendable beach club environment with fold-down waterside terraces that provides guests with immediate contact with the sea.

Elegant, sophisticated, and primed perfectly for endless time spent outdoors by the water

The latest renderings of superyacht O’REA also reveal an elegant main deck saloon illuminated by lateral full-height windows as well as a multi-functional upper deck lounge area replete with a piano, large TV and high-tech AV systems, perfect for cozy movie nights onboard. 

In terms of amenities, the yacht is packed with an array of superlative showstoppers from her sun deck area with a state-of-the-art gym to the gorgeous beach house, complete with a Finnish sauna, Turkish hammam and massage room.

Completing the impressive health and wellness ensemble, there are also two glass bottom pools, one of which is situated on the main deck aft illuminating the lounge area of the beach house underneath. The other is located on the expansive sun deck, where the bottom of the pool floods the staircase with natural sunlight.

Showcasing meticulous craftsmanship coupled with high-end luxurious finishes, motor yacht O'REA certainly has the "wow" factor

The yacht accommodates 12 guests across 8 large cabins, each boasting exceptional space and height. There is also a voluminous Owner’s cabin onboard with a luxurious private office area. Precious stones with emerald and sapphire hues are used across all the guest areas, adding a sophisticated and elegant element to every space onboard.   

Scheduled for delivery in June 2023, superyacht O'REA will be available for charter and is believed to be joining the Greek charter fleet  for the summer season.

If you're interested in booking a similar vessel for your next vacation at sea, you can view and compare all Golden Yachts charter superyachts today  or speak with a recommended yacht charter broker who can help you create your dream yacht rental vacation. 

Additional Golden Yachts vessels available to charter

88m Golden Yachts 2022

95m Golden Yachts 2020

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Latest: British tech giant Mike Lynch and Morgan Stanley chairman Jonathan Bloomer among the missing in Bayesian sinking disaster

According to the BBC, Morgan Stanley's chairman Jonathan Bloomer is among the six people missing after the 56-metre Perini Navi sailing yacht Bayesian capsized and sunk off the coast of Palermo, Italy yesterday (19 August). The other missing individuals are:

• British tech entrepreneur Mike Lynch, once dubbed 'Britain's Bill Gates'
• Lynch's 18-year-old daughter Hannah
• Judy Bloomer, wife of Morgan Stanley chairman 
• Chris Morvillo, a lawyer working for London-based law firm Clifford Chance

One person has been confirmed dead, according to the Italian Port Authority. 

It is understood that the yacht was being used to celebrate Lynch's recent victory in a 13-year £8bn fraud acquittal.

Live updates

• A search and rescue is currently underway for six people missing in the waters off Palermo on the Italian island of Sicily.
• Mike Lynch, a British technology entrepreneur who co-founded Autonomy Corporation and founded Invoke Capital, is among the missing.
• Lynch’s wife, Angela Bacares, and a one-year-old child are among fifteen people who were rescued.
• The BBC has reported that the Palermo Coastguard has confirmed the body that has been recovered is that of the yacht's chef.
• Another sailing vessel in the area, the 42-metre Sir Robert Baden Powell ,  is understood to have stepped in to offer assistance in the initial rescue.
• Divers have been able to reach Bayesian' s sunken hull, which lies at 45 metres of depth about half a mile from the coast. The yacht had the largest aluminium masts of any sailing yacht on the water.
• Eyewitnesses in the area reported "hurricane" conditions off the coast but local weather websites did not indicate any severe squall, which suggests that the weather event was not forecast.
• At around 5am local time on 19 August, Bayesian was hit by bad weather and sunk.  The sailing yacht was anchored or idle at the time of the incident.

Built in Italy by renowned builder Perini Navi and delivered in 2008, the yacht's naval architecture was developed by Ron Holland Design while the interior design is by Rémi Tessier . She was formerly known as Salute and was last refitted in 2016. She was listed for sale earlier this year, according to BOATPro . The yacht had accommodation for nine guests and 12 crew.

BOAT International will update the story as it develops.

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Exiled russian oligarch’s 257’ superyacht amaryllis seen towed through palm beach.

The Amaryllis being towed past the former mansion of Henry Flagler, built in 1902

By John Jannarone and Alan Hatfield

The 257’ superyacht Amaryllis apparently owned by exiled Russian oligarch Andrey Borodin was towed past Palm Beach, FL on Friday morning, according to a visual account by CorpGov .

The yacht, whose owner is frequently cited as Mr. Borodin by enthusiast publications, moved slowly through the Lake Worth lagoon where bridges were raised for its passage. A towboat with flashing lights about 150 feet ahead pulled the Amaryllis , built by German shipyard Abeking & Rasmussen in 2011.

While CorpGov could not officially confirm Mr. Borodin as the owner of the vessel, his wife, socialite Tatiana Korsakova, has posted dozens of Instagram photos and videos aboard the Amaryllis. A yacht broker interviewed by CorpGov confirmed that Ms. Korsakova is indeed aboard the Amaryllis in the photos and videos.

View this post on Instagram A post shared by Tatiana Korsakova (@tati_vk)

The sighting comes as billions of dollars in Russian-owned yachts have been seized around the world as a result of international sanctions. CNN has published an extensive list of seized vessels, which were taken in harbor cities including Mallorca, Spain and London.

However, it is unclear if the Amaryllis was being seized or voluntarily towed. Very large yachts often choose to be towed because bridges are required to raise for them, according to the yacht broker.

The former Bank of Moscow chief was granted political asylum in the UK in February 2013 after fleeing what he alleged to be politically-motivated fraud and embezzlement charges. Mr. Borodin would go on to be tried and convicted in abstentia in Russian Court in 2018, but not before managing to enlist a number of prominent American lawmakers to lobby Washington for a U.S. visa. Despite Russian extradition requests to the UK government, Borodin’s controversial attempts to make large donations to the NHS, and the uncovering of an assassination plot against his life, the fugitive banker remains overseas, having been granted access to his Swiss bank accounts and having made several notable London real estate purchases during his time in exile.

Mr. Borodin is widely listed as a billionaire, but his total wealth remains difficult to confirm accurately, with the governments of Switzerland and the Bahamas having been asked to help the Russian government in its legal case. In 2012, Borodin purchased the UK’s then-most expensive home, an 80-hectare 18th-century estate in Oxfordshire, for upwards of $217 million. In 2017 he was granted access to personal Swiss accounts holding a reported $378 million. The Amaryllis was purchased for a reported $120 million.

Mr. Borodin did not immediately respond to an emailed query from CorpGov , while the FBI declined to comment. An emailed query to The Department of Homeland Security was not returned.

www.CorpGov.com

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Twitter: CorpGovernor