Treasure hunter says he found $3B WWII wreck

AP via Stars and Stripes ^ | Feb 1, 2012 | CLARKE CANFIELD

[Jet Jaguar]

PORTLAND, Maine (AP) -- A treasure hunter said Wednesday he has located the wreck of a British merchant ship that was torpedoed by a German U-boat off Cape Cod during World War II while carrying what he claims was a load of platinum bars now worth more than $3 billion.

If the claim proves true, it could be one of the richest sunken treasures ever discovered.

But an attorney for the British government expressed doubt the vessel was carrying platinum. And if it was, in fact, laden with precious metals, who owns the hoard could become a matter of international dispute.

Treasure hunter Greg Brooks of Sub Sea Research in Gorham, Maine, announced that a wreck found sitting in 700 feet of water 50 miles offshore is that of the S.S. Port Nicholson, sunk in 1942.

He said he and his crew identified it via the hull number using an underwater camera, and he hopes to begin raising the treasure later this month or in early March with the help of a remotely operated underwater vessel.

"I'm going to get it, one way or another, even if I have to lift the ship out of the water," Brooks said.

The claim should be viewed with skepticism, said Robert F. Marx, an underwater archaeologist, maritime historian and owner of Seven Seas Search and Salvage LLC in Florida. Both an American company and an English company previously went after the contents of the ship years ago and surely retrieved at least a portion, Marx said. The question is how much, if any, platinum is left, he said.

[KoRn]

I believe I would have kept this quiet if I were the treasure hunter. If I were to find $1million in the proverbial briefcase on the side of the road, not another soul would know about it.

[kingu]

http://uboat.net/forums/read.php?3,79311,80122#msg-80122

Is this the same one that was claimed to have been found by the same group in 2009? Are they just getting around to checking it out? Was the first time a mistake, but now they really do have the right ship? Or is this a guy who’s full of a whole lot of hot air, and reporters who have a shockingly low ability to do even the slightest research on anyone?

[Jet Jaguar]

Neat link.

I don’t know.

[GOPsterinMA]

Like my Dad used to say if he found something of value: “I’d turn it in, into my pocket.”

[Right Wing Assault]

Both an American company and an English company previously went after the contents of the ship years ago and surely retrieved at least a portion, Marx said. The question is how much, if any, platinum is left, he said.

So, if these guys found a bunch of platinum, how did they cover it up? I would think someone might notice you trying to unload a couple billion in platinum. And why didn't this new guy just shut up?

[KoRn]

Yup! The problem with many people is not knowing when it’s a good time to keep your mouth shut. Instances such as these is one of those times. lol

Of course, with regard to this treasure hunter, it would be a good bit more complex, because I’m SURE he wasn’t alone. It would require a conspiracy among everyone working with him. From the captain/crew of the ship, to his colleagues.

[kingu]

Hmm... Slightly more information - http://www.jamesallen.com/news/love-in-style/Maine-treasure-hunters-find-billions-04-19-09.html

The group nailed 5 million out of investors, and pretty much spent every penny before actually checking out the wreck, in 2009. Guess that money ran out, and it’s time for another shot....

[KoRn]

"So, if these guys found a bunch of platinum, how did they cover it up?"

That's pretty much what I was getting at with the above post I made. In the treasure hunter's case, it would probably be damn near impossible to keep a lid on this. The best he could probably hope for is to go public to make a claim on it, and hope for a huge salvage fee of some kind from the owners(once determined).

[GOPsterinMA]

Here’s one solution to loose lips:

http://www.youtube.com/watch?v=IowunN9Y5yE

[aruanan]

The best he could probably hope for is to go public to make a claim on it, and hope for a huge salvage fee of some kind from the owners (once determined).

"A pure or merit salvage award will seldom exceed 50 percent of the value of the property salved. The exception to that rule is in the case of treasure salvage. Because sunken treasure has generally been lost for hundreds of years, while the original owner (or insurer, if the vessel was insured) continues to have an interest in it, the salvor or finder will generally get the majority of the value of the property. While sunken ships from the Spanish Main (such as Nuestra Señora de Atocha in the Florida Keys) are the most commonly thought of type of treasure salvage, other types of ships including German submarines from World War II which can hold valuable historical artifacts, American Civil War ships (the USS Maple Leaf in the St. Johns River, and the CSS Virginia in Chesapeake Bay), and sunken merchant ships (the SS Central America off Cape Hatteras) have all been the subject of treasure salvage awards."

[tiki]

Yep

[Impy]

Damn right!!

http://en.wikipedia.org/wiki/Night_of_the_Running_Man

In that movie I think Andrew McCarthy got in trouble by conspicuously spending the money.

[GOPsterinMA]

Have you seen that movie? I’ve never heard of it before.

[Impy]

Yeah when I was a kid, it must have been when it was on HBO. I didn’t realize it was never in the theaters.

There was a scene where McCarthy got his feet dipped in boiling water, scared the crap out of me.

[GOPsterinMA]

I’ll have to keep an eye out for it or maybe Walmart has the DVD for cheap...

Thx for the tip.

[Secret Agent Man]

Thought maritime salvage law is whoever finds treasure is the owner of the treasure.

[phockthis]

sfl

[GeronL]

If its a UK wreck, there is a good chance he won’t get much

[BushMeister]

In these salvage cases, the amount of the award to the discoverer often hinges on whether the vessel was a military ship or a merchant vessel. In this case, it sound like it was a merchant vessel, which would generally result in a much higher salvage award. Of course, that’s if there is anything of value there in the first place.