Yacht Broker Missing

And so is $200,000 from the company accounts!

In Dana Point, California local newspaper The Dana Point Times is reporting that Ed Fitzgerald a local yacht broker and owner of Dana Island Yachts is wanted for questioning after reports that more than US$200,000 in yacht brokerage accounts is missing and that Fitzgerald has not been seen in more than a week.

The Orange County Sheriff’s Department is keen to question Fitzgerald about the missing funds. “This could be just the tip of the iceberg,” department spokesman Jim Amormino told the paper. “The money lost could be in the millions. There are 20 victims that we know of, but they keep coming forward.”

Bob Jarvis a yacht broker with the firm said the money is missing from special accounts that were set up to hold funds from boat vendors and buyers. “I have no idea where he is,” Jarvis told the paper. “He’s just disappeared. We’re all in shock. We’re just in a bad place.”

Jarvis said that the firm has never had any problems in the past. “We are concerned about his safety,” he said. “The fact that the money is gone does make it suspicious. We’ve never had a problem with the accounts before. Ever.”

Staff at the company issued a statement on the firm’s website stating that it had ceased all charter and brokerage operations. It read: “It is with great sadness that we must announce effective immediately Dana Island Yachts has ceased all yacht charter and brokerage operations while we undergo restructuring. If you had a boat listed for sale your listing agent will be contacting you shortly.”