The Italian coastguard has launched an extensive search and rescue operation involving specialist divers, helicopters, and patrol boats after a luxury sailboat sank off the coast of Porticello, north-western Sicily, on August 19, 2024.
The incident has left six people missing, including Hannah Lynch, the daughter of Mike Lynch, a prominent British businessman.
Lynch, 59, who had recently been acquitted in the US after facing massive fraud charges, was reportedly on board the vessel with several colleagues when the tragedy occurred. His wife, Angela Bacares, was among the 15 people rescued from the wreckage, but his daughter remains unaccounted for.
Salvo Cocina, head of the Civil Protection Agency in Sicily, confirmed the ongoing search efforts to AFP, describing the situation as critical. The search has intensified, with the Italian Carabinieri patrolling the port as authorities race against time to locate the missing passengers.
Mike Lynch, originally from Suffolk in east England, is a well-known figure in the tech industry.
A former advisor to two British prime ministers, Lynch made his fortune through his software firm Autonomy, which he sold to Hewlett-Packard (HP) for $11 billion in 2011. The deal, once hailed as a major success story for British tech, quickly turned sour when HP reported a write-down of $8.8 billion, accusing Lynch of inflating Autonomy’s value before the sale.
This accusation led to a decade-long legal battle, culminating in Lynch’s extradition to the US last year.
Facing 17 charges that could have resulted in two decades of imprisonment, Lynch spent a year under house arrest before being acquitted on all charges in June.
Following his acquittal, Lynch expressed his eagerness to return to the UK and resume his life with his family.
Despite the acquittal, Lynch’s legal troubles are far from over. A civil fraud case in London’s High Court found that HP had been misled in the Autonomy deal, and the court is still deliberating on the damages owed by Lynch.
Additionally, Sushovan Hussain, Autonomy’s former CFO, was found guilty of fraud in 2018 and is currently serving a five-year sentence.
The sinking of the sailboat is the latest chapter in a tumultuous period for Lynch, who had recently seen a reversal of fortune when Darktrace, a British cybersecurity firm in which he is a founding investor, accepted a $5.3 billion takeover offer from US private equity firm Thoma Bravo. The news sent Darktrace’s share price soaring, offering a glimmer of hope amid Lynch’s ongoing legal battles.
As the search continues, the fate of Hannah Lynch and the other missing passengers remains uncertain. A spokeswoman for Mike Lynch declined to comment on the situation. Authorities are urging caution as they work to uncover the cause of the sinking and bring closure to those affected by the tragedy.