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The race is on for One-Eyed Willy's treasure, as part of the shipwreck of the boat that inspired 'The Goonies' has been found. Marine archaeologists have recovered timbers from the hull of the 17th-century Spanish galleon Santo Cristo de Burgos in sea caves in Oregon, USA.

A more than 300-year-old Spanish shipwreck carrying treasure that might be worth up to $17 billion was discovered with the help of an underwater robot. It's called the Remus 6000 and it can dive nearly four miles and is loaded with sensors and cameras. Bronze cannons confirmed "the holy grail of shipwrecks" had been found at the bottom of the Caribbean Sea. They are engraved with dolphins — a telltale sign they belong to the Spanish galleon San Jose, lost more than 300 years ago. "I just sat there for about 10 minutes and smiled," said Jeff Kaeli, a research...

Treasure hunters have apparently found the 500-year-old remains of a naval expedition led by a colonizer who could have changed Florida's history, making it French-speaking at least for a while. The big question is if the shipwreck is that of "La Trinite," the 32-gun flagship of a fleet led by Jean Ribault, a French navigator who tried to establish a Protestant colony in the southeast US under orders from King Charles IX. They probably are, say authorities in Florida, the French government and independent archeologists. And if they in fact are, this is an unparalleled find, said John de Bry,...

In 2011 archaeologists happened upon a stunningly well-preserved shipwreck off the coast of Panama. The wreckage, a mere 40 feet underwater, was untouched by looters and still carrying a full load of tools and weapons. Now, after years of work, scientists finally know the ship's story.

OCTOBER 17, 2009 Rajaratnam Surfaced in U.S. Terrorism Probe By EVAN PEREZ and MATTHEW ROSENBERG WASHINGTON—The hedge-fund billionaire charged as part of a vast insider-trading case surfaced in an earlier, separate probe into U.S. fundraising by a Sri Lankan terrorist group, people familiar with the probe said. As part of that investigation, federal agents said they uncovered documents showing that Raj Rajaratnam, founder of the Galleon Group, was among several wealthy Sri Lankans in the U.S. whose donations to a Maryland-based charity made their way to the Liberation Tigers of Tamil Eelam, according to people familiar with the probe. Raj...

The man who brought down Galleon is not finished, and if the report by Reuters' Matt Goldstein is correct, FBI special agent B.J. Kang may well have his sights set on the top of the hedge fund pantheon: SAC Capital itself. This is not a surprise to Zero Hedge, and is something we have speculated on in the past, however the intricacies of such a spectacular take down would have to be refined beyond any reasonable doubt as any allegations against Mr. Cohen will likely see the involvement of every single $1,000/hour billing lawyer in the world, taking on any...

Charges against 14 snared in insider-trading probe make for unusually entertaining reading. The insider-trading case outlined by federal prosecutors in New York Thursday has all the elements of a classic television crime drama: wiretaps, clandestine cash handoffs and people with nicknames like "the Greek" and "octopussy." Authorities say a trader known as "the octopussy" is at the center of the ring, which included other traders, a Moody's Investors Service analyst, and hedge fund managers, and two lawyers, one of whom was a young associate who allegedly passed along tips about private-equity deals being done by his big law firm's clients....

Sounds like it to me. Interesting info out of FT: The Galleon hedge fund at the centre of an insider trading scandal paid hundreds of millions of dollars a year to its Wall Street banks and in return regularly received market information that would not have been disclosed to most investors, executives familiar with the matter say. A person familiar with Galleon, whose founder, Raj Rajaratnam, was charged with insider trading this month, said it paid about $250m to its banks last year. Executives who dealt with the fund said it paid more in fees and other charges during the...

Argentine builders stumbled across the wreck of an 18th century Spanish galleon while digging the foundations for a riverside high-rise building in Buenos Aires, archaeologists said on Tuesday. Experts combing the remains of the ship said they did not expect it to contain treasure, but so far they have discovered several canons and well-preserved earthenware jars that were probably used to store olive oil. The remains of the galleon were found on a building site close to the shores of the River Plate and archaeologists from Buenos Aires city government think the boat was probably shipwrecked some 300 years ago....

In this photo released by the Florida Keys News Bureau, a tiny solid gold combination toothpick and earwax scoop is displayed inside a clam shell Monday, May 19, 2008, in Key West, Fla. A Blue Water Ventures salvage diver recovered the artifact Sunday, May 18, about 40 miles west of Key West during a search for remains of the Spanish galleon Santa Margarita that shipwrecked in a 1622 hurricane. According to archaeologists, the 3-inch-long grooming tool is more than 385 years old and was probably worn on a gold chain. Estimated value could exceed $100,000. (AP Photo/Florida Keys News...

Artifacts could be from early galleon Mon Feb 26, 11:42 PM ET MEXICO CITY - Archeologists said Monday that porcelain plates and other artifacts found along the Baja California coast could be from the wreckage of a Spanish galleon that sailed between the Philippines and Mexico hundreds of years ago. Seals and other markings on some of the estimated 1,000 fragments of porcelain plates found at the site indicate they were made in China in the late 1500s, said archaeologist Luz Maria Mejia of the National Institute of Anthropology and History. The site, near the port of Ensenada about 50...