"The SS Central America was transporting more than 400 passengers and crew as well as 30,000lb of federally minted gold when it sank in 1857. Thompson and his team found the ship about 7,000ft below the surface, at the bottom of the Atlantic Ocean."
"Investors who funded Thompson's search for the ship later claimed that he bilked them out of their cut of the treasure, and they sued him in 2005. Thompson insisted that he didn't know where 500 coins made from the ship's gold were in particular."
"Although federal laws typically limit prison for contempt to 18 months, US appellate judges decided in 2019 that Thompson's case was an exception. They found that Thompson's refusal was in violation of a plea agreement."
Tommy Thompson, a renowned salvager, discovered the SS Central America in 1998 at 7,000 feet below the Atlantic Ocean near South Carolina. The ship sank in 1857 while carrying over 400 passengers and crew along with 30,000 pounds of federally minted gold. Investors who funded Thompson's search later sued him in 2005, claiming he withheld their share of the treasure. Thompson was imprisoned for 10 years after refusing to reveal the location of 500 coins worth $2.5 million. He maintained the coins were transferred to a Belize-based trust and that proceeds from initial gold sales covered bank loans and legal fees. Despite typical 18-month contempt limits, appellate judges extended his sentence, citing violation of a plea agreement. Thompson was released on March 4 without revealing the coins' location.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]