The yacht was anchored just 300 meters from shore when it was hit by a waterspout during a major storm near Palermo, Italy, at around 5 a.m. on August 19 (local time). The 10 crew members and 12 passengers were quickly engulfed by the superyacht.

Survivors were later found floating in life rafts. The body of a man believed to be the ship’s cook was also found. Searchers fear more bodies will be found in the hold today – August 20.

Mike Lynch, once dubbed the “British Bill Gates” and worth an estimated £852 million, took his family and friends on a trip after being acquitted of fraud charges in the US. For Mike Lynch, the trip was like the start of a “new life” after nearly a year of house arrest.

However, it all turned into a tragedy.

On the morning of August 20, the search for the bodies of the six missing people began. Professional divers dived to a depth of 50m to reach the wreckage of the sunken ship.

In addition to Mike Lynch and his 18-year-old daughter Hannah, the other missing people include: Morgan Stanley International chairman Jonathan Bloomer and his wife; Clifford Chance lawyer Chris Morvillo – who represented Lynch in his recent legal battle – and his wife Nada.

During the emergency search on August 19, rescuers said they saw many bodies through the windows of some of the ship’s cabins. However, they were still unable to enter due to obstructions despite their extensive experience in this field.

Officials said hopes of finding missing victims alive were slim.

Lynch’s wife, Angela Bacares, 57, one of those rescued, recalled the moment the boat suddenly tilted at 4am before the glass began to shatter. She is now in a wheelchair and unable to walk because of injuries all over her body.

Witnesses said the incident happened so quickly that it appeared Mr Lynch’s superyacht, which boasts the world’s tallest mast, had almost disappeared in the tornado.

“The yacht was brightly lit in the middle of the sea, but at around 4:30 a.m., it was no longer there,” said a witness.

Fisherman Pietro Asciutto said: “The waterspout appeared while I was at home. When I closed the window, I saw the yacht with a large mast suddenly sink.”

The yacht that sank was the Bayesian, a superyacht that Mr Lynch has always been proud of. However, a Dutch ship anchored just metres away from the Bayesian escaped the storm unscathed.

Karsten Borner, the ship’s captain, said he had to struggle to steady the ship to avoid hitting the nearby Bayesian: “After the storm passed, we realized the ship behind had disappeared.”

An expert believes it was the giant aluminium mast on Mr Lynch’s superyacht that may have caused the vessel to capsize and sink so quickly.

The Bayesian superyacht is known to have one of the tallest masts in the world, at 75m. According to technical advisor and marine expert Gino Ciriaci, the mast broke during the waterspout and was the main cause of the ship’s sinking. The tall mast would have put “tens of tons” of pressure on the yacht from the wind, and the sinking of the yacht was “completely normal” based on the technical specifications.