Jeff Atwater: Miami Boat Captain Charged for Sinking Yacht

A Miami boat captain was charged with first-degree grand theft for allegedly sinking a $1.86 million yacht off the Bahamas, the office of Florida Chief Financial Officer Jeff Atwater announced Thursday.

Robert Figueredo, 49, was arrested by detectives from the Florida Department of Financial Services Division of Insurance Fraud following an investigation into the sinking of the 80-foot yacht Star One.

There is no such thing as a victimless crime, Atwater stated in a release. Those who reap the spoils of perpetuating fraud victimize every Florida consumer. Those who cheat their fellow Floridians out of their hard-earned dollars will be captured and put behind bars.

The yacht was found scuttled in an area known as the Tongue of the Ocean on May 3, 2009, a day before it was reported stolen from Key Biscayne.

Figueredo gave a sworn statement to Federated Insurance Co. that he had no knowledge of the theft.However, according to Atwaters office, investigators were informed by an ex-girlfriend of Figueredo, who also told police, thathe had bragged about deliberately sinking the boat.

Figueredo faces up to 30 years in prison.