'yacht' is 40 years old and was listed for sale for 28k. And owner is working stiff who filed for bankruptcy in 2004. article title could be misleading. I pictured a millionaire sinking a million dollar yacht"http://www.cnn.com/2009/CRIME/02/22/yacht.fraud/index.htmlCNN) -- A Seattle man has been charged with insurance fraud for allegedly sinking his own yacht because of "financial pressure and frustration with the maintenance" of the vessel, authorities said.
On March 22, 2008, Brian Lewis, 50, scuttled the Jubilee in the Puget Sound Bay, then rowed a borrowed dinghy back to shore, according to court documents filed in February by prosecutors in King County, Washington.
Later that day, Lewis boarded a flight to take him to his job in Kodiak, Alaska, as a petty officer with the National Oceanic and Atmospheric Administration, according to court documents.
Three days later, Lewis filled an insurance claim with USAA Insurance reporting the Jubilee sank accidentally "due to unknown causes."
However, due to environmental concerns, the Washington State Department of Natural Resources salvaged the vessel at a cost to the state of $2,866.
An inspection found a hole was drilled into the bottom of the Jubilee, and that two main engine sea strainers appeared to have been broken with a hammer.
"The vessel appeared to have been deliberately sunk," authorities said in their probable cause affidavit.
Confronted by investigators, Lewis admitted he intentionally sunk his vessel, saying the financial strain "caused him extreme anxiety and frustration."