Divers hunt for missing billionaire, finance boss in Sicily yacht sinking

Specialist divers on Tuesday launched a fresh search for six people, including UK tech tycoon Mike Lynch and the chairman of Morgan Stanley International, missing since their yacht capsized off the Italian island of Sicily.

The 56-metre British-flagged sailing yacht "Bayesian" was anchored some 700 metres from port with 10 crew and 12 passengers on board when it was struck by a waterspout, a sort of mini tornado, before dawn on Monday.

Fifteen people aboard, including a mother and her one-year-old baby, were plucked to safety but the body of one man, reported to be the yacht's chef, was found a few hours later.

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On Tuesday, divers searching for the six people still missing strapped on oxygen bottles and began their descent in choppy seas to the wreck, some 50 metres below the surface.

Because of the depth, each dive is restricted to 12 minutes each, including two minutes for descending and ascending, according to Luca Cari, spokesman for the fire service.

The passengers were guests of Lynch — a celebrated technology entrepreneur and investor sometimes referred to as the UK's answer to Bill Gates — celebrating his recent acquittal in a massive US fraud case.

Lynch's wife Angela Bacares was among 15 people rescued, but the businessman and his 18-year-old daughter Hannah were missing, according to Salvo Cocina, head of the Civil Protection Agency in Sicily.

The chair of Morgan Stanley International, Jonathan Bloomer, who testified for Lynch in the US case, was also missing alongside his wife, Judy, the UK insurer Hiscox said on Tuesday.

Bloomer is also the chair of Hiscox, which issued a statement saying it was "deeply shocked and saddened" by the incident.

Christopher Morvillo of law firm Clifford Chance, who represented Lynch, was also on the boat along with his wife, media reports said.

Lynch, 59, was acquitted on all charges in a San Francisco court in early June after he was accused of an $11 billion fraud linked to the sale of his software firm Autonomy to Hewlett-Packard.

Divers trained to work in tight spaces were flown in from Rome and Sardinia late Monday, but the search was made difficult by the fact the yacht remains largely intact.

Marco Tilotta, from the Palermo fire service divers' unit, said some of the divers had worked on the wreck of the Costa Concordia cruise ship, which sank off Tuscany in 2012, killing 32 people.

Tilotta told AFP that search efforts were concentrated on getting inside the sleeping and living areas of the yacht, which was lying on its side in one piece.

A search of the bridge earlier on Tuesday turned up nothing.

"The spaces inside the boat are very tight and if you encounter an obstacle it is very complicated to move forward, just as it is very difficult to find alternative routes," said Cari, from the fire service.

The luxury vessel was moored off Porticello, east of Palermo, when violent winds and rains suddenly swept up the coast.

"It was terrible. The boat was hit by really strong wind and shortly after it went down," survivor Charlotte Golunski told ANSA news agency.

Golunski, board director at Luminance, a company founded by Lynch, lost hold of her one-year-old daughter in the waves "for two seconds", before managing to grab her "while the sea raged".