A British-flagged luxury superyacht, reportedly carrying 22 passengers including a billionaire tech tycoon, has tragically sunk off the coast of Sicily, near Palermo, during a severe storm around 5 a.m. local time. The vessel, named Bayesian, was owned by Mike Lynch, a tech titan often referred to as the “British Bill Gates.” Lynch, who has recently been in the headlines after being cleared of all charges in a high-profile fraud case in June, is among those missing.
Rescue Operations Underway
A massive search and rescue operation is currently underway to locate at least six missing individuals after the 180-foot vessel capsized following a direct hit from a tornadic waterspout. Authorities have successfully rescued 15 passengers, including Lynch's wife and the couple's one-year-old child. However, the tragic discovery of one deceased passenger and harrowing scenes reported by divers have already dashed hopes for a successful rescue of all missing persons.
Speaking to the press, Salvo Cocina, head of the Civil Protection of Sicily, noted that divers could see “corpses through the portholes” as they worked around the wreckage, located at a depth of approximately 50 meters (163 feet).
Sky News has the latest:
Mike Lynch told a journalist who interviewed him only last month that he was “about to go on a very long holiday” having spent more than a year under house arrest in the US.
Danny Fortson, West Coast correspondent for The Sunday Times, told Sky News that Mr Lynch was ready to take a “big deep breath” and relax with his family after being acquitted in a high-profile US fraud case in June.
Mr Fortson said the case had “hung over his head for a decade” as Mr Lynch believed there was only 1% chance he would be found not guilty of crimes for which he could've been jailed for 25 years.
After being cleared, the journalist said Mr Lynch kept saying: “This is like I have a second life, I have a new lease on life, I've won my freedom, now I need to figure out what to do with the rest of my life.”
Barely a month later, he is missing.
Lynch, co-founder of the British software company Autonomy, faced fraud charges related to the 2011 sale of his company to Hewlett-Packard (HP). The case revolved around allegations that Lynch and other Autonomy executives inflated the company's value through fraudulent accounting practices, leading HP to overpay in the $11.7 billion acquisition. HP later wrote down nearly $8.8 billion of the purchase price, citing accounting irregularities.
Lynch was accused of misleading practices, including improperly recognizing software license sales and engaging in questionable transactions to enhance Autonomy's financial appearance. The legal battle spanned the U.K. and the U.S., with Lynch facing both civil and criminal charges. In the U.K., HP filed a civil lawsuit seeking damages, while in the U.S., Lynch faced extradition to answer to charges including wire fraud and securities fraud.
In 2023, the charges against Lynch were dropped after a lengthy legal process. The decision was influenced by the international complexities of the case, difficulties in securing evidence and witness testimonies and the prolonged duration of the proceedings. It marked the end of one of the tech world's most high-profile legal battles, though it left lingering questions about corporate governance and accountability in large-scale acquisitions.
Sounds a bit “fishy” to me. One would assume a guy like Lynch would certainly have life jackets for everyone on the boat especially himself. So, is he really missing ??