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Best luxury yacht: 7 ultimate luxury cruisers you can buy

• Toby Hodges
• March 14, 2024

Toby Hodges takes a look at all the nominees and the winner of the best luxury yacht category in the European Yacht of the Year Awards

The definition of the best luxury yacht will differ according to personal opinion and from boat to boat. This year’s nominees in the luxury yacht category of the European Yacht of the Year Awards proved that perfectly.

The European Yacht of the Year awards are selected by a broad panel of expert judges from across the globe. These are people who spend their professional lives sailing and comparing yachts, so you can be certain that the yachts which stand out in this field are truly the best of the best on the market.

The best luxury yachts

Best luxury yacht winner 2024 – arcona 50.

When you enter the fiercely competitive 50ft luxury performance yacht market you better get it right. And the jury felt Arcona managed that. This watershed design for the traditional Swedish brand, by X-Yachts co-founder and former designer Niels Jeppesen, is a big, contemporary new Arcona, one that sees it move away from its cruiser-racer heritage and classic interiors.

The on trend styling inside and out is backed up by a premium level of build and finish quality and sailing performance – particularly if you have the performance sails, traveller and deep (2.95m) keel options the test boat carried, although the latter does limit your berthing and anchoring options.

While I doubt it’ll be raced or will suit typical bluewater use, it offers a purity of performance push-button sailing: a handsome prospect upwind in a light breeze, it transforms into a powerful reaching machine with stacks of control.

As chairman of our jury, Jochen Rieker, puts it: “The boat certainly did not win for her somewhat borrowed looks. She wins by checking all the boxes in all other respects. Slipping along gracefully in the lightest of airs, holding her stride and her balance in more demanding conditions, offering warmth, light and this reassuring feeling of utter quality down below – there simply isn’t anything to fault.”

Contest 50CS

The Contest 50CS, for example, is an archetype luxury cruising yacht, one built to the highest standards and that could take you to most waters in impeccable comfort. This model is, uniquely, available in two versions: this more conventional 50CS with aft master cabin, or the forward owner’s suite version on the aft cockpit Contest 49CS . We ran a full test on the latter after spending two days aboard in the North Sea, where that noticeably high freeboard, which may not aid boarding nor windage, helped keep us dry on deck in a steady Force 6 gusting 7.

As the 50CS proved, this Judel/Vrolijk design keeps slipping along in the light stuff too, providing enjoyable sailing in 6 knots breeze under a code sail. The centre cockpit offers a deep protected guest area, but also links well to the spacious aft deck.

And the Wetzels-Brown-designed interiors of Contests today are stunning and hard to match. The engineering, access to usable stowage, details and finish on the 50CS is first class and to get this level of quality at this size is special.

Both Contest and X-Yachts are early adopters of hybrid power, offering their bluewater cruisers with optional electric drives. For the XC 47 this was designed-in from the start to offer Oceanvolt’s award-winning new 25kW regenerative drive.

The XC 47 is another wonderfully engineered and thought out yacht for distance cruising, in particular for those who also enjoy hands-on helming pleasure. That should come as no surprise to any X aficionados, but what really struck me most about this yacht was the stowage, and the forethought needed to create that, together with how practical it has been made.

That may sound slightly anticlimactic but ask any long-term cruiser and stowage is always a priority. On deck, this constitutes a huge lazarette and sail locker, plus clever systems for launching a dinghy via davits and a liferaft canister, while below decks every square inch of space has been used effectively, with lockers hinged with gas struts.

It’s clear the Danish yard went to considerable time and effort, even building a full mock up of the interior that could be canted 20° each way.

If the deck saloon style looks didn’t sell this model to all – this is the first full non-Jeppesen designed X – the jury were converted once they’d taken the helm. ‘Quirky’ became ‘muscular and bold’. The ease with which it can be sailed from the cockpit was also appreciated.

While I understand many offshore cruisers like a protected centre cockpit and more sun protection, the attention to detail, stowage and practicalities, combined with the direct steering, motion and enjoyable sailing this X offers make it a standout new offering.

Jeanneau Yachts 55

Meanwhile the Jeanneau Yachts 55 stands out for different, unique reasons in this category, offering a completely new concept in comfort on deck while at anchor and a novel accommodation layout. Its focus is on outdoor living space.

What helps place this in a luxury bracket is not simply the price or the creative input of superyacht specialist design duo Philppe Briand and Andrew Winch, rather that its layout creates a palatial amount of private space for the owner’s suite. Guest cabins have their own direct access from the extensive cockpit via gullwing doors.

It certainly makes sense for solo owners or couples using it as a warm water apartment. How many people this will suit is another question, as it segregates any guests, crew or children from the galley and saloon.

I used the term monocat when I first viewed it, as the 55 really does attempt to mix the two worlds, particularly in terms of providing owner privacy and lounging space. Choose the rigid hard top and windshield and there’s a vast amount of covered area including a dinette and chart table – plus a bimini can shade all that extensive aft deck too.

The penalty comes in additional weight and wetted surface, and is felt in the handling and performance, the latter particularly in lighter breeze with the optional in-mast furling, self tacking headsail and shallow draught package we had. However, it’s set up to be easily managed from the mid cockpit with good visibility from the twin helms and easy circulation thanks to the ramped side decks. Full report in YW February 2024.

Best luxury yacht 2023

Best luxury yacht winner – oyster 495.

It is hard to imagine that the decor of a yacht can change its look and feel quite this much, yet the layout of this second 495, Eddie Jordan’s dramatic looking Tuga , is in fact identical to the first boat that I spent several days aboard last summer.

At its heart is a wonderfully (Humphreys) designed and engineered luxury bluewater cruiser conceived from the ground up, built in a new dedicated facility to a repeatable quality very few yards are capable of.

The 495 offers consistent passage making speeds in real voluminous comfort – whether enjoyed from the deep cockpit or the best-in-class aft cabin. Deck stowage and mechanical space is also superb.

Then factor in the family appeal of Oyster’s after sales and world rally programme and you start to appreciate the premium world this sub 50-footer gives access to.

The first yacht fully conceived under CEO Richard Hadida’s reign, this is also the smallest completely new Oyster 495 since 2005 – and it’s a triumph. It was our September 2022 cover star in which we featured the full review from our Oyster 495 three day test .

Beneteau Oceanis Yacht 60

The Oceanis Yacht 60 is a very different beast indeed to the 62 it replaces as flagship for the Beneteau range. The yard has learned plenty from the success of the First 53/OY 54 and wanted to create a 60 in this style and with the same deck layout (albeit larger and wider) and ease of circulation.

The construction experience of the smaller model clearly helped too, as this is a whopping five tonnes lighter than the bulky OY62 and with a deeper (2.6m) keel. The telling result is on the water. It feels sporty to helm and we averaged a knot slower than the single figure 6-8 knot windspeeds upwind and matched them reaching with Code 0 and a slight swell.

The vast cockpit works well, sheltered below the semi rigid bimini, it has plentiful lounging space with sailing systems led aft to the twin helms. The interior sees a 3+3 layout, where Beneteau wanted to get rid of the corridor effect of the OY62. The galley is forward to help open out space, while the forward suite with offset berth and headboard aft works well to give space with privacy.

This is an attractive, voluminous yacht that leaves a good overall impression whether under sail, on or below decks.

Ice 62 Targa

It all looks pretty funky below decks on the Ice 62 Targa too, especially if you’re watching the masthead fore and aft cameras (plus bow and prop cam) on central displays mounted in the saloon while you slip out of the dock! The Ice is a seriously impressive, contemporary yacht, one that in looks, performance and execution, won over many of the judges.

The first to launch is a highly customised project for a passionate sailing owner who covers long distances solo – he’d already sailed it 3,000 miles around the Med that autumn. It’s impressively stiff, sails handsomely and, thanks to a telescopic keel, points well. We matched single figure windspeeds, and clocked up to the high 9s in 12 knots wind.

Umberto Felci’s team spent 4,000 hours on the design, providing lots of space and light to the interior and a chillout zone in the semi raised saloon. This was easily the coolest looking yacht, with its aggressive reverse bow, chamfered gunwales and carbon T-top bimini, and all engineered and built to a high standard.

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1980s American heritage continued Northrop & Johnson’s opens flagship office in the heart of New England with its Newport, RI establishment.

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Jonathan Zwaans

Multilingual Jonathan grew up in Monaco and has an impressive network of industry contacts, allowing him to cast the net wide to locate the perfect yacht for his clients.

A former Olympic sailor, Max’s passion for new technologies has allowed him the privilege of securing the sales of some of the most exciting new designs on the water.

Igor Miskovic

Igor started his career in yacht design and has experience in project and fleet management, and uses this depth of experience to provide solid, honest advice.

Toby Nott Bower

A qualified sailor, Toby loves exploring the world and brings his passion for adventure to his dealings with clients, going above and beyond to hunt down special yachts that they’ll love.

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"Sensational volume for her size, with a full-beam, two-level master suite." – Jonathan Zwaans

"Impressive efficiency and innovative design combine in Cadet V. Presented in turnkey condition, Cadet V is ready to cruise away now." – Max Bulley

"Having been meticulously maintained, Como I is ready to go immediately. It’s an extremely versatile platform, not to be missed." – Jonathan Zwaans

"The last in the popular Amels 180 Limited Edition Series, Galene offers a stylish interior, spacious accommodation and an impressive array of water toys; she is also charter-ready with a stellar reputation." – James Pool

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Frequently Asked Questions

What Should I look for Before Buying a Yacht?

Key considerations before buying a yacht include your preferences, intended use, and staying informed about the market. Attending yacht shows or chartering can help define your needs. Working with a knowledgable broker ensures accurate pricing and a seamless buying experience.

How do I buy a yacht?

Speak to your Y.CO Broker who will advise on pricing, offering market comparisons and analysis reports. They will also arrange sea trials and inspections, supported by Y.CO's technical team. Your Y.CO Broker will collect documents and collaborate with all parties for agreement completion.

Can I View the Yacht Before I Purchase?

Yes - in fact it is highly recommended to view as many yachts as possible during the purchase process. Your Y.CO Broker will assist in creating a shortist of yachts, organise private visits, accompany you on board and will help you ask the right questions.

What Happens after Offer Acceptance?

After acceptance of the offer, a sea trial and haul out will be arranged on your behalf. This allows your Y.CO broker, our technical experts and an independent yacht surveyor to verify that all the systems on board the vessel perform as specified.

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The Luxury Yacht Charter Fleet

We are the world's leading luxury yacht charter comparison site, view the entire market to find your ideal yacht for your fully crewed private yachting vacation..

We have searched everywhere to find all crewed rental yachts - so you don't need to. Compare the market using our powerful search engine tools to view all superyachts & megayachts as well as catamarans and luxury gulets available to rent around the globe.

View all luxury yachts available to rent in the most popular Mediterranean summer charter destinations such as the South of France , Greece , Croatia and Turkey in addition to the classic winter season cruising grounds of the Bahamas & Caribbean and all the other exotic charter locations.

Why Charter a Yacht?

From the moment you step on board a luxury yacht charter, your world is opened to the ultimate in luxury, privacy and freedom. Unlike the restrictions of a cruise ship itinerary or the inconvenience of busy hotels and restaurants, superyacht charters offer a sense of freedom and flexibility that is truly unrivalled. Tailored to the needs and desires of you and your guests, with a professional crew dedicated to creating an unforgettable experience, you are free to immerse yourself in the luxury and relaxation of fabulous accommodation, breathtaking views, gourmet cuisine and endless activities, all enveloped by the vitality of life at sea.

The comfort and opulence that accommodation on a superyacht can have to offer rivals that of the best hotels in the world, with the added element of 24 hours a day personalised service. Each individual charter yacht is different and offers a wide range of amenities onboard. From movie theatres, spas and private beachclubs to jet skis and scuba diving equipment, along with an experienced crew that could include anyone from award-winning Chefs to qualified beauty therapists, there is the perfect excuse to indulge or try something new. No-where else in the world can you experience watching a multi-coloured sunset from a top-deck Jacuzzi in the tranquillity of the vast, open ocean before enjoying al-fresco dining with your family and friends under an endless star-strewn night sky.

Whether you're a true sailing enthusiast looking for maritime adventure or just looking for a luxurious and comfortable vacation that caters to the needs of all your family and friends, a luxury yacht charter offers something for everyone with limitless possibilities.

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The entire global charter fleet*

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Black Pearl

105m   Oceanco

Renaissance

REV Ocean 28

195m   2025

Golden Horizon 274

162m Brodogradevna Industrija Split

162m   2021

Flying Fox 22

136m Lurssen

136m   2019

from $3,328,000 p/w eek ♦︎

126m Lurssen

126m   2003/2024

from $2,200,000 p/w eek

122m Lurssen

122m   2024

from $3,000,000 p/w eek

115m Lurssen

115m   2021

from $2,874,000 p/w eek ♦︎

Renaissance 36

112m Freire Shipyard

112m   2023

108m Benetti

108m   2019

from $1,990,000 p/w eek ♦︎

107m Olympic Yacht Services

107m   1997/2022

from $2,211,000 p/w eek ♦︎

Black Pearl 14

105m Oceanco

105m   2018

Christina O 34

99m Canadian Vickers

99m   1943/2020

from $774,000 p/w eek ♦︎

Carinthia VII 12

97m Lurssen

97m   2002/2023

from $1,547,000 p/w eek ♦︎

97m Feadship

97m   2017/2022

from $1,775,000 p/w eek ♦︎

CC-Summer 12

95m Lurssen

from $1,769,000 p/w eek ♦︎

95m Golden Yachts

from $1,217,000 p/w eek ♦︎

from $1,327,000 p/w eek ♦︎

93m Feadship

from $1,556,000 p/w eek ♦︎

92m Nobiskrug

92m   2000/2023

from $1,050,000 p/w eek ♦︎

Aquarius 12

92m Feadship

from $1,500,000 p/w eek

Queen Miri 36

92m Neorion

92m   2004/2023

from $1,094,000 p/w eek ♦︎

Moonlight II 36

91m Neorion

91m   2005/2020

from $713,000 p/w eek ♦︎

Tranquility 22

92m Oceanco

92m   2014/2023

from $1,100,000 p/w eek

Lady Lara 12

91m Lurssen

91m   2015/2023

from $1,400,000 p/w eek

90m Corsair Yachts

90m   2007/2021

from $497,000 p/w eek

Phoenix 2 12

90m Lurssen

90m   2010/2024

from $1,000,000 p/w eek

90m Royal Huisman

90m   2004/2024

from $324,000 p/w eek ♦︎

90m Oceanco

90m   2018/2024

from $1,334,000 p/w eek ♦︎

Lauren L 36

90m Cassens-Werft

90m   2002/2008

from $768,000 p/w eek ♦︎ *

89m Oceanco

89m   2015/2023

Maltese Falcon 12

88m Perini Navi

88m   2006/2023

from $490,000 p/w eek

Project X 12

88m Golden Yachts

from $1,222,000 p/w eek ♦︎

88m Schichau Unterweser

88m   1969/2020

from $500,000 p/w eek ♦︎

86m Oceanco

from $561,000 p/w eek ♦︎

86m Scheepswerf Gebr. van der Werf

86m   1998/2024

from $531,000 p/w eek ♦︎

Man of Steel 12

86m   2010/2023

86m Derecktor Shipyards

86m   2010/2021

from $945,000 p/w eek

86m Abeking & Rasmussen

86m   2009/2024

from $953,000 p/w eek ♦︎

86m   2010/2018

from $1,278,000 p/w eek ♦︎

85m SilverYachts

from $968,000 p/w eek ♦︎

Wanderlust 12

from $960,000 p/w eek

85m Lurssen

Grand Ocean 12

85m Blohm + Voss

85m   1990/2019

from $703,136 p/w eek

Meridian A 12

85m   2011/2019

from $1,056,000 p/w eek ♦︎

O'Ptasia 12

85m Golden Yachts

85m   2018/2024

from $1,001,000 p/w eek ♦︎

Solandge 12

85m   2013/2022

from $1,111,000 p/w eek ♦︎

Victorious 12

85m Ak Yachts

from $890,000 p/w eek ♦︎

Le Ponant 32

84m   1990/2022

from $506,000 p/w eek ♦︎

Savannah 12

84m Feadship

84m   2015/2020

83m Golden Yachts

83m   2004/2022

82m Abeking & Rasmussen

82m   2015/2021

from $1,223,000 p/w eek ♦︎

81m Feadship

81m   2011/2017

from $1,028,000 p/w eek ♦︎

Sea Eagle 10

81m Royal Huisman

81m   2020/2022

from $590,000 p/w eek ♦︎

Elements 12

80m Yachtley

from $889,000 p/w eek ♦︎

Excellence 12

80m Abeking & Rasmussen

from $1,150,000 p/w eek

80m Oceanco

80m   2007/2019

from $861,000 p/w eek ♦︎

My Dragon 12

80m Columbus Yachts

from $945,000 p/w eek ♦︎

80m Bilgin Yachts

from $860,000 p/w eek ♦︎

from $965,000 p/w eek ♦︎

SS Delphine 26

79m Great Lakes Ew

79m   1921/2016

from $445,000 p/w eek ♦︎

Amaryllis 12

78m Abeking & Rasmussen

78m   2011/2022

from $770,000 p/w eek

78m Golden Yachts

78m   2023/2024

from $811,000 p/w eek ♦︎

from $480,000 p/w eek

77m IHC Verschure

77m   1974/2019

from $661,000 p/w eek ♦︎

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Moran Yacht & Ship is proud to be considered one of the world’s best yacht companies; a leader in luxury yacht sales, construction, charter, and management. Whether you are interested in buying a yacht , selling your yacht , luxury yacht charter , or new yacht construction , our super yacht brokers and yacht managers are here to assist. Family-owned and operated, our luxury yacht brokerage has been the preferred choice for yacht buyers, sellers, and charterers for over three decades.

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Interested in buying? Moran is proud to have the most impressive fleet of all the world’s brokerage companies. With over three decades of experience in yacht sales and purchase, along with countless time spent at sea, our knowledgeable luxury yacht brokers will guide you through the process of purchasing or selling a yacht. Learn more about our featured luxury yachts for sale here.

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Our experience is what sets us apart from other yacht companies. The Moran team is made up of marine industry experts, including veteran Captains and engineers, meaning that we are uniquely positioned to provide world-class superyacht services. Our team’s wealth of luxury yacht knowledge is what first draws people to us, while our straightforward approach is what keeps clients coming back time and time again. We Do What We Say, honoring our promises and commitments to clients and fellow brokers above all else. By providing honest, specialist, yet unbiased advice to everyone who passes through our door, we maintain an extraordinarily high rate of repeat business.

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Want to charter or know more about how to charter a yacht ? Moran Yacht & Ship is considered one of the very best yacht companies in the world for luxury yacht charter , with an expert team who will always go the extra mile to provide you with the right itinerary, vessel, and superyacht crew . Learn more about our featured luxury yachts for charter here.

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Integrity and the relentless pursuit of the deal defines Moran Yacht & Ship - I am grateful that you were on this journey with me. This magical machine KISMET is the second yacht I’ve had built with Moran Yacht & Ship. KISMET has brought joy, hope, and the gift of discovery to many lives - including my own. You have made this world a better place! Owner, KISMET

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• Luxury Riverboats Are Giving Superyacht Charters a Run for Your Money

Once the ugly-duckling cousin to oceangoing superyachts, many riverboats now offer similar levels of luxury, comfort, and service. They can also access historic cities or remote deltas where no superyacht can venture.

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With the rise of expedition yachting in remote destinations such as Antarctica , Greenland, and Indonesia’s Raja Ampat, there’s a general belief that all corners of the globe are now accessible by private yacht charter.

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“River cruising is the beneficiary of a larger travel trend in which luxury travelers are looking to do nothing,” Daniel Levine, director of New York consultancy Avant-Guide Institute , tells Robb Report . “By that, I mean they can visit multiple ports and soak up plenty of culture and history, all without changing hotels.”

This new fleet of river cruisers can access inland cities and remote stretches of countryside that are inaccessible to large oceangoing vessels. Plus, Levine says, there’s an added advantage to river travel: no seasickness.

One leader of the new set of purpose-built riverboats is Aqua Expeditions , the luxury river cruise operator whose first vessel, Aria Amazon , set sail on the Peruvian Amazon in 2011. Over a decade later, the fleet has grown to three river ships, none with more than 20 suites, cruising both the Amazon and the Mekong River in Vietnam and Cambodia, along with two oceangoing yachts in the Galapagos and Eastern Indonesia. 

“On my river ships, 30 percent of departures are now private buyouts, similar to traditional charters,” says founder Francesco Galli Zugaro. These clients, mainly multigenerational family groups or large gatherings of friends, are people who tend to vacation on yachts rather than the typical cruise ship crowd. Most of them have come to the riverboats, says Galli Zugaro, after chartering one of Aqua Expeditions’ two yachts.

The desire for off-the-beaten-track travel is fueling this new interest in riverboat charters, says Frédéric Crétin, a Monaco-based charter broker at superyacht brokerage Camper & Nicholsons . “We’ve had a surge in enquiries for the Peruvian Amazon, especially with Americans since it’s not too far from home,” says Crétin, who manages whole-boat bookings for the Aqua Expeditions fleet.

Heritage Line operates five traditionally styled ships along the upper and lower Mekong River and in Vietnam’s Halong Bay and Lan Ha Bay. “Our vessels, particularly our small-ship sailing charters on Halong Bay and Lan Ha Bay, have seen an increase in private stays,” says CEO John Tue Nguyen. “We now average 12 to 15 charters annually, including families, multi-generational bookings and VIP travelers.”

In Egypt, a gap in the market to showcase the country’s temples in a private, exclusive way, was behind the launch of the Nile River’s first luxury charter yacht in 2022, Berge . “Our clients are mostly royal families, politicians, celebrities, and athletes,” says Armen Kazazian of Kazazian Cruises , the yacht’s owner. “They don’t want to share the Egypt experience with hundreds of other people.”

The 180-foot, nine-cabin vessel has recently been joined by a sistership, the 196-foot, nine-cabin Arax . True to superyacht protocol, charters are secured with an official MYBA The Worldwide Yachting Association contract, and in the lead-up to the charter, a preference form is sent out to gather information on dietary preferences and daily routines to ensure everything is ready for your arrival. 

The differences also include having no water toys as one would on a conventional yacht charter. “But we overcome that with the destination and experiences, such as candlelit dinners on private islands,” says Kazazian. Maybe. But being restricted to a single route on a river is also fundamentally different than port-hopping along the Med or Caribbean.

Inland cruising has multiple benefits, insists Matthew Shollar of Transcend Cruises , Europe’s first charter-only, river-cruise company. “You’re not just in coastal locations and you can take your whole group off the boat to a spa, or go biking, or shopping,” Shollar says. “And a riverboat always docks close to your destination.”

In September 2025, the company’s first ship, the 443-foot Transcend , will launch, with a second identical vessel following in early 2026. Penned by Tillberg Design of Sweden, both are built to European riverboat specs but draw inspiration from superyachts for style and amenities, including a 2,600-square-foot indoor/outdoor fitness area that includes a gym, spa, and guest wellness facility. 

“The single most expensive piece of equipment on board is a hot tip from superyachts, a 144-inch C Seed unfolding television,” continues Shollar. “It’s a worthwhile investment for guests to enjoy everything from silent discos to movie nights on the sun deck.”

The company soft-launched Transcend Advance this summer to better examine the private market’s potential. It took over a five-star vessel from Riverside Luxury Cruises. One client, celebrating his 60th birthday party, had never considered a riverboat charter, but was lured by being able to host many more guests. “We designed a six-day itinerary that was flexible and unique,” says Kimberly Daley, Transcend’s chief revenue officer. “It enabled him and his friends to see chartering in a whole new way.”

Transcend will sail “the highest-demand European waterways,” including the Rhine, Danube, and Moselle, offering waterside access to historic cities like Trier, Budapest, and Belgrade.

But a second collection of smaller luxury barges is carrying charter to canals and smaller waterways. Both Belmond’s 128-foot Coquelicot and European Waterways’ Kir Royale launched in France’s Champagne region this year, with a max capacity of six and eight guests, respectively, and the possibility of whole-boat bookings. This combination of space, intimacy, pastoral views and access to exceptional vineyards can’t be replicated on oceangoing yachts.

While luxury riverboats are still a small niche compared to the larger world of superyacht charters, they offer another kind of cruising experience, one that combines slow-moving water with a relaxed lifestyle in some of the most scenic destinations on the planet.

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Italy luxury yacht victims died of 'dry drowning,' first autopsies show.

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Initial autopsies of four of the seven victims who died when a superyacht sank in a storm in Italy last month show they died of “dry drowning,” according to authorities.

The phenomenon, also known as “atypical drowning,” means they had no water in their lungs, tracheas or stomachs, said a spokesperson for the lawyer of the captain of the Bayesian, which went down off the coast of the Sicilian port of Porticello on Aug. 19.

The cause of death of the first four victims suggests that they had found an air bubble in the cabin in which five of the victims’ bodies were discovered, and had consumed all the oxygen before the air pocket turned toxic due to carbon dioxide, according to local media reports.

The autopsies of American lawyer Chris Morvillo, his wife Neda Morvillo, Morgan Stanley banker Jonathan Bloomer and his wife Anne Elizabeth Judith Bloomer were carried out on Wednesday at the Forensic Medicine Institute of the Palermo Polyclinic hospital, officials said.

Autopsies on British tech titan Mike Lynch and his 18-year-old daughter are expected to be carried out on Friday.

No date has been set yet for the autopsy of Recaldo Thomas, the ship’s onboard chef – due to the difficulty reaching his family in Antigua.

All seven victims were scanned for injuries last Saturday, which found none had suffered broken bones or other physical injuries that might have contributed to their deaths.

The prosecutor investigating the case first suggested earlier in August the idea that the victims had been searching for an air pocket.

The autopsies are part of the criminal investigation into the ship’s captain James Cutfield, the ship’s machine engineer Tim Parker Eaton and sailor Matthew Griffith, who was on watch the night of the accident. None of the men is in Italy.

They are being investigated for “multiple manslaughter” and for causing a shipwreck, but authorities say this doesn’t mean they will be charged with any crimes. They were allowed to leave the country by the prosecutor in charge of the investigation.

The 184-foot yacht sank within 16 minutes of being struck by a downburst or tornado on the early morning of Aug. 19. The ship will have to be raised for the investigation and to ensure that the 18,000 liters of fuel onboard do not leak into the sea around the port of Porticello near Palermo.

Bids have been sent out for the salvage, which will be paid for by the company of Lynch’s wife Angela Bacares, which owns the yacht.

Toxicology results on the seven victims are expected in the coming days. No alcohol or drug tests were carried out on any of the crew members, the prosecutor said in a press conference after all the victims’ bodies had been recovered.

Lynch and his business partner Sushovan Hussain, who died after being struck by a car in London the day the Bayesian sank, had been acquitted of fraud charges in a U.S. court in June 2024. The charges were related to the sale of their company Autonomy to Hewlett Packard, which has said it will not drop its civil lawsuit for $4 billion in damages now being heard in a U.K. court.

Four Yacht Victims Likely Died After Depleting Air Pocket In Sunken Italian Ship: Reports

Breaking News Reporter, HuffPost

Four of the seven people killed when a luxury yacht sank off Italy’s coast last month likely died after depleting a pocket of air they had found while trapped inside the submerged ship, according to several reports.

Autopsies found that the victims — Morgan Stanley International chairman Jonathan Bloomer, his wife Judith, lawyer Chris Morvillo and his wife Neda — likely died from suffocation following the Aug. 19 sinking, Reuters reported Thursday citing judicial sources.

None of these four victims, who were found in the same cabin, had water in their lungs, suggesting they didn’t drown, the BBC also reported citing Italian news agency Ansa.

This type of death was described as “dry drowning,” which is when all of the available oxygen is consumed, leaving only carbon dioxide, CNN similarly reported citing local media.

The autopsies of two of the other victims, British tech star Mike Lynch and his 18-year-old daughter, are expected to take place on Friday. The autopsy of the ship’s onboard chef, Recaldo Thomas, has been delayed pending contact with his family in Antigua, CNN reported.

The 184-foot British-flagged ship was carrying 22 people when it was hit by a violent storm while anchored off the coast of Sicily in the early morning hours, causing it to capsize and sink within minutes, authorities previously said.

Of those on board, 15 were rescued by the Italian Coast Guard. The survivors included Lynch’s wife, Angela Bacares, who Reuters previously reported owns the firm that the yacht is listed under.

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The group had been celebrating Lynch’s recent acquittal of fraud and conspiracy charges related to the $11 billion acquisition of his software maker Autonomy to Hewlett Packard in 2011, survivors have said.

An investigation remains underway into the cause of the ship’s sinking, including whether it was caused by human error.

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Questions for Investigators Trying to Unravel Mystery of Luxury Yacht’s Sinking

The investigators searching for answers about the shipwreck, leaving seven dead, face questions about extreme weather and possible human error or problems with the yacht itself.

• Share full article

By Alan Yuhas

More than 180 feet long, with a mast towering about 240 feet and a keel that could be lowered for greater stability, the Bayesian luxury yacht did not, in the eyes of its maker, have the vulnerabilities of a ship that would easily sink.

“It drives me insane,” Giovanni Costantino, the chief executive of the Italian Sea Group, which in 2022 bought the company that made the ship, said after its wreck last week. “Following all the proper procedures, that boat is unsinkable.”

But the $40 million sailing yacht sank within minutes and with fatal results: seven dead, including the British technology billionaire Michael Lynch, his teenage daughter, four of Mr. Lynch’s friends and a member of the crew. Fifteen people, including the captain, escaped on a lifeboat.

Mr. Lynch had invited family, friends and part of his legal team on a cruise in the Mediterranean to celebrate his acquittal in June of fraud charges tied to the sale of his company to the tech giant Hewlett-Packard.

The Italian authorities have opened a manslaughter investigation, searching for answers from the survivors, the manufacturer and the wreck itself. They face a range of questions and possible factors.

An ‘earthquake’ in the sky?

When the Bayesian sank around 4 a.m. on Aug. 19, the waters in its area, about half a mile off the Sicilian port of Porticello, were transformed by an extremely sudden and violent storm, according to fishermen, a captain in the area and meteorologists.

But what kind of storm is still a mystery, compounded by the fact that a sailing schooner anchored nearby did not have its own disaster. Also unclear is whether the crew was aware that the Italian authorities had issued general warnings about bad weather the night before.

Karsten Börner, the captain of the nearby passenger ship, said he’d had to steady his ship during “really violent” winds . During the storm, he said, the Bayesian seemed to disappear behind his ship.

Severe lightning and strong gusts were registered by the Italian Air Force’s Center for Aerospace Meteorology and Climatology, according to Attilio Di Diodato, its director. “It was very intense and brief in duration,” he said.

The yacht, he said, had most likely been hit by a fierce downburst — a blast of powerful wind surging down during a thunderstorm. His agency put out rough-sea warnings the previous evening, alerting sailors about possible storms.

Locals have said the winds “felt like an earthquake.” A fisherman in Porticello said that he had seen a flare go off in the early-morning hours. His brother ventured to the site once the weather had calmed about 20 minutes later, he said, finding only floating cushions.

The Italian authorities have so far declined to say whether investigators had seen any structural damage to the hull or other parts of the ship.

Open hatches or doors?

The boat executive, Mr. Costantino, has argued that the Bayesian was an extremely safe vessel that could list even to 75 degrees without capsizing. His company, the Italian Sea Group, in 2022 bought the yacht’s manufacturer, Perini Navi, which launched the ship in 2008.

Mr. Costantino said that if some of the hatches on the side and in the stern, or some of the deck doors, had been open, the boat could have taken on water and sunk. Standard procedure in such storms, he said, would be to switch on the engine, lift the anchor and turn the boat into the wind, lowering the keel for extra stability, closing doors and gathering the guests in the main hall inside the deck.

At a news conference on Saturday, almost a week after the sinking, investigators said the yacht had sunk at an angle , with its stern — where the heavy engine was — having gone down first. The wreck was found lying on its right side at the bottom of a bay, about 165 feet deep.

12 guests occupied the yacht’s six cabins. There were also 10 crew members.

Open hatches, doors and cabin windows could have let in water during a storm, according to the manufacturer.

Open hatches, doors and

cabin windows could

have let in water

during a storm,

according to the

manufacturer.

Source: Superyacht Times, YachtCharterFleet, MarineTraffic

By Veronica Penney

Water pouring into open hatches or doors could have contributed to the sinking, experts say, but that on its own may not account for the speed at which such a large boat vanished underwater.

Asked about the hatches at the news conference, the authorities declined to comment on whether they had been found open at the wreck.

The authorities have also not specified whether the boat had been anchored, whether it was under power at the time or whether its sails had been unfurled.

A retracted keel?

The Bayesian had a keel — the fin-like structure beneath a boat that can help stabilize it — that could be retracted or extended, according to its manufacturer. On some yachts, keels can be raised to let the large vessel dock in shallower water, and extended downward to help keep a boat level.

But like the hatches, the status of the keel alone may not explain why a large ship sank with such precipitous speed. Investigators have not disclosed what divers may have seen at the wreck, aside from saying divers had faced obstacles like furnishings and electrical wiring in tight quarters. Officials want to raise the wreck to better examine it, a process that may take weeks.

Human error?

Ambrogio Cartosio, the prosecutor in charge of the case, said at the news conference that it was “plausible” crimes had been committed, but that investigators had not zeroed in on any potential suspects.

“There could be responsibilities of the captain only,” he said. “There could be responsibilities of the whole crew. There could be responsibilities of the boat makers. Or there could be responsibilities of those who were in charge of surveilling the boat.”

It remains unclear what kind of emergency training or preparation took place before the disaster, or what kind of coordination there was during it. So far, none of the surviving crew members have made a public statement about what happened the night the ship sank.

Prosecutors said they want to ask more questions of the captain and crew, who have been in a Sicilian hotel with other survivors. They said that neither alcohol nor drug tests had been performed on crew members, and that they have been allowed to leave Italy.

Prosecutors also said they were also investigating why the captain, an experienced sailor, left the sinking boat while some passengers were still on board.

Besides possible manslaughter charges, the authorities are investigating the possibility of a negligently caused shipwreck.

The bodies of five passengers were found in one cabin, on the left side of the yacht, the authorities said. The five were most likely trying to flee to the higher side of the boat and were probably sleeping when the boat started to sink, they said.

Italy luxury yacht victims died of 'dry drowning,' first autopsies show

Initial autopsies of four of the seven victims who died when a superyacht sank in a storm in Italy last month show they died of “dry drowning,” according to authorities.

The phenomenon, also known as “atypical drowning,” means they had no water in their lungs, tracheas or stomachs, said a spokesperson for the lawyer of the captain of the Bayesian, which went down off the coast of the Sicilian port of Porticello on August 19.

• Download the CTV News App for breaking news and video on all top stories

There is no medically accepted “dry drowning” condition — “dry drowning” or other terms such as secondary drowning or delayed drowning are sometimes used to describe patients whose condition worsened after a drowning rescue or who had very little water in the lungs. However, the American Red Cross and other health organizations have recommended against using the terms; people may experience health impacts after being in water but it’s not the same as drowning, it says.

The cause of death of the first four victims suggests that they had found an air bubble in the cabin in which five of the victims’ bodies were discovered, and had consumed all the oxygen before the air pocket turned toxic due to carbon dioxide, according to local media reports.

The autopsies of American lawyer Chris Morvillo, his wife Neda Morvillo, Morgan Stanley banker Jonathan Bloomer and his wife Anne Elizabeth Judith Bloomer were carried out on Wednesday at the Forensic Medicine Institute of the Palermo Polyclinic hospital, officials said.

Autopsies on British tech titan Mike Lynch and his 18-year-old daughter are expected to be carried out on Friday.

No date has been set yet for the autopsy of Recaldo Thomas, the ship’s onboard chef – due to the difficulty reaching his family in Antigua.

All seven victims were scanned for injuries last Saturday, which found none had suffered broken bones or other physical injuries that might have contributed to their deaths.

The prosecutor investigating the case first suggested earlier in August the idea that the victims had been searching for an air pocket.

The autopsies are part of the criminal investigation into the ship’s captain James Cutfield, the ship’s machine engineer Tim Parker Eaton and sailor Matthew Griffith, who was on watch the night of the accident. None of the men is in Italy.

They are being investigated for “multiple manslaughter” and for causing a shipwreck, but authorities say this doesn’t mean they will be charged with any crimes. They were allowed to leave the country by the prosecutor in charge of the investigation.

The 56-meter yacht sank within 16 minutes of being struck by a downburst or tornado on the early morning of August 19. The ship will have to be raised for the investigation and to ensure that the 18,000 liters of fuel onboard do not leak into the sea around the port of Porticello near Palermo.

Bids have been sent out for the salvage, which will be paid for by the company of Lynch’s wife Angela Bacares, which owns the yacht.

Toxicology results on the seven victims are expected in the coming days. No alcohol or drug tests were carried out on any of the crew members, the prosecutor said in a press conference after all the victims’ bodies had been recovered.

Lynch and his business partner Stephen Chamberlain, who died after being struck by a car the day the Bayesian sank, had been acquitted of fraud charges in a US court in June 2024. The charges were related to the sale of their company Autonomy to Hewlett Packard, which has said it will not drop its civil lawsuit for US$4 billion in damages now being heard in a UK court.

This story has been updated to correct the name of Mike Lynch’s business partner.

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Secretive Cyprus-Registered Funds Were Used to Hide Megayachts and Luxury Real Estate Linked to Sanctioned Russian Banker

In Cyprus, a new type of investment fund was marketed to clients as a way to avoid disclosing their ownership of assets. In one case, these funds were used to obscure the ownership of offshore companies that allegedly held luxury assets linked to powerful Russian banker Andrei Kostin, including two megayachts worth tens of millions.

James O'Brien/OCCRP

Banner: James O'Brien/OCCRP

• Two megayachts linked to Andrei Kostin were hidden behind secretive investment funds in Cyprus, known as “registered alternative investment funds.”
• The funds were managed by a company called Inveqo, owned by the wife of a sanctioned Cypriot lawyer.
• Registered alternative investment funds, or RAIFs, were marketed by the lawyer’s firm as a way for clients to avoid revealing their ownership after an EU crackdown on corporate secrecy.
• Ownership of three Kostin-linked properties in Moscow and a neighboring region were also obscured behind investment funds managed by Inveqo.

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Two companies that Russian state banker Andrei Kostin allegedly used to control a pair of megayachts were transferred to secretive Cyprus investment funds on the eve of the Ukraine invasion, making it impossible to see who owned them, financial records show.

The funds were managed by a company called Inveqo Fund Management Ltd. At the time, Inveqo was owned by the wife of a Cypriot lawyer, Christodoulos Vassiliades, who was sanctioned by the U.S. last year for acting as a “prolific enabler” of Russian oligarchs.

Inveqo marketed the special type of funds used to own the megayachts — known as “registered alternative investment funds,” or RAIFs — as a way to help clients avoid revealing ownership information after the European Union tried to crack down on corporate secrecy, according to marketing materials found amid leaked emails obtained by OCCRP. 

One user appears to be Kostin, the longtime head of Russia’s state-owned VTB Bank, who has been sanctioned by the U.S. and European Union for his close ties to the regime of Vladimir Putin. Anti-corruption activist and opposition politician Aleksei Navalny, who died in a Russian prison camp this year, first linked Kostin to a 62-meter megayacht, the Sea & Us, in 2019 . In February this year, a U.S. indictment of Kostin for sanctions evasion alleged that the banker also owned another megayacht, the 66-meter Sea Rhapsody, and that the vessels were held through two offshore companies, one based in the Marshall Islands and another in Belize .

Screenshot of website https://navalny.com/.

The yacht Sea & Us, shown on Navalny’s website.

The U.S. indictment claimed that Kostin “owned and controlled” these two offshore companies through “a series of additional shell companies, nominee owners, and trust and investment fund structures” which were used “to obscure his true beneficial ownership of the Sea Rhapsody and the Sea & Us.” (Kostin did not respond to a request for comment sent through VTB bank.) 

The indictment did not name these structures, but an OCCRP investigation has found that in  October 2021, as tensions between Russia and the West over Ukraine were rising, ownership of the two offshore companies that held the yachts was transferred to two RAIFs managed by Inveqo, according to the Cypriot corporate register and financial records. (The funds have since been dissolved, and the current ownership structure of the yachts is unknown.)

The Cypriot government had only introduced RAIFs in July 2018, just two months after a European Union anti-money laundering directive required member states to create publicly accessible registries of “ultimate beneficial owners,” or UBOs, of companies.

Read more about beneficial ownership registries and why they're critical in the fight against corruption .

RAIFs received a particularly light regulatory touch. Unlike most funds, RAIFs only need to be registered — not licensed — by the Cyprus securities regulator, and they are available only to institutional and other professional investors.

The use of RAIFs to obscure even highly sought-after assets like the megayachts highlights how hard it is to enforce sanctions effectively, said Stephan Blancke, an associate fellow at the Royal United Service Institute, a U.K.-based think tank. 

“This raises the question: How many other beneficiaries of these Cypriot alternative investment funds exist that we do not know about?” he asked.  

The lawyer whose firm marketed the funds, Vassiliades, said that he and his law firm had always acted in “strict compliance” with Cypriot and European Union sanctions and anti-money laundering and anti-corruption rules and regulations. 

He said that he had never been informed that Kostin or “any other sanctioned person” was an investor or beneficial owner in the RAIFs and yachts identified by OCCRP. “I was not informed or had any knowledge of this fact. No one ever disclosed such facts to me,” he said. 

Vassiliades himself was sanctioned last year along with other “entities and individuals in his network” the U.S. said had acted as “prolific enablers of a number of Russian oligarchs.” (The sanctions announcement did not mention which oligarchs he was accused of working with, nor did it name Kostin.) 

Marketing RAIFs to Hide Ownership

Inveqo was set up in late 2018 and licensed as an “alternative investment fund manager.” It was acquired in May 2021 by a company owned by Vassiliades’ wife, Eleni Vasiliadou, who also worked as an office manager at her husband’s law firm, Christodoulos Vassiliades & Co LLC. 

Although Inveqo was nominally owned by Eleni, a leaked email obtained by OCCRP showed that Vassiliades’ law firm circulated its marketing materials, and even referred to Inveqo as “our own affiliated company.”

Although Vasiliadou did not respond to a request for comment, Vassiliades told OCCRP that she had owned Inveqo from June 2021 to May 2023 “as an investment” and that she had not been involved in the company’s day-to-day operations. 

He added that the email had been sent as part of a bulk newsletter to “many clients” of his law firm and was “not meant to promote or market Inveqo.” He said the term “affiliate” had been used to refer to “a firm in my law firm’s referral network and to which my law firm acted as a legal advisor.” 

“Neither me nor my law firm ever controlled INVEQO in any way, or had any ownership interest, or engaged or participated in INVEQO’s business activities or day-to-day operations,” he wrote. 

The marketing materials in the leaked emails show that RAIFs were presented to prospective clients as a way of avoiding having their ownership of assets revealed by the new EU transparency law, which the law firm referred to as “optimization of the UBO disclosure requirements.”

The materials laid out how the actual investor in an RAIF would not appear when Cyprus published its register of company owners, but would instead remain hidden behind the name of an external fund manager. 

Edin Pašović/OCCRP

An excerpt from marketing materials for RAIFs obtained by OCCRP.

In one information sheet distributed by the law firm, prospective clients were assured that “access to investors [sic] information is only available to the Fund Manager and to the Depositary.” 

Another example of the marketing material for RAIFs.

Vassiliades denied that the RAIFs were marketed as a way of avoiding ownership disclosure. 

“Neither I or my law firm ever promoted or enabled any sanctions evasion or promoted any non-declaring of owners of assets. Any such practice is entirely against my professional ethics,” he said. 

In another leaked email introducing Inveqo to prospective clients, a Cypriot company called InterTaxAudit — which Vassiliades’ law firm calls its “affiliated partners ” — referenced the disclosure requirements under the new EU directive. 

“The Fund structure can be a solution to this problem,” the email continued, “since it does not require a UBO, the investors are holding units of the Fund, they don’t ‘own’ the assets therefore their names are not disclosed anywhere.”

In other words, clients could continue to control assets through these funds, but with their ownership hidden.

Moving Yachts Into RAIFS

The U.S. indictment alleged that Kostin owned his megayachts through companies registered in the Marshall Islands and Belize . In October 2021, both of those offshore companies were transferred into Inveqo-managed RAIFs: Ostreus RAIF V.C.I.C. and Lorenor RAIF V.C.I.C., respectively, financial statements show.  

Mikhail Klimentyev/Kremlin Pool/Alamy stock photo

Andrei Kostin.

Kostin was sanctioned by the European Union in February 2022, a day before Russia’s full-scale invasion of Ukraine. 

Cyprus made its register of beneficial owners publicly available that summer to adhere to the EU anti-money laundering directive. But thanks to the RAIFs, the yachts could not be found. Furthermore, because Vassiliades’ wife — not Vassiliades himself — owned Inveqo, the company was not affected when the U.S. and U.K. sanctioned Vassiliades in April 2023 . 

Where Did the Yachts Go?

In 2022, when OCCRP published the Russian Asset Tracker project, the Sea Rhapsody and the Sea & Us were included on a list of “most wanted” assets — ones we had strong reason to believe were linked to a sanctioned figure with ties to the regime of Vladimir Putin, but whose ownership we could not prove. Since then, more information about the yachts has become publicly available: The U.S. indicted Kostin in February this year for sanctions evasion and money laundering, and named the two yachts as assets he had sought to hide . The indictment also named the Belize and Marshall Islands companies that owned the yachts, and provided detail on their luxurious fittings, including an infinity pool, a jacuzzi, and customized stationary on the Sea Rhapsody.

The Belize company, Solston Shipping Limited, is still listed as the owner of the Sea Rhapsody on its current shipping certificate issued by the International Maritime Organization, a U.N. body responsible for regulating maritime transport. However, The Sea & Us changed its name to the Serenity and Unity, and it is now owned by a company called Comhold Limited, based in an unknown jurisdiction. The Marshall Islands company that previously owned it, Pasithea Shipping Ltd., has been dissolved. Both yachts were flagged as Marshall Islands vessels until 2022, when they began flying the Malaysian flag. They are currently docked in the Aegean Sea, off the coast of Turkey.

The two megayachts were not the only Kostin-linked luxury assets whose ownership was obscured behind Inveqo RAIFs. In November 2021, the same RAIFs also took over three Cyprus firms linked to Kostin’s property holdings by previous OCCRP and Navalny investigations : Angerston Holdings Ltd, Castelor Investments Ltd, and Eralmor Holdings Ltd. 

Angerston owned a luxurious three-story townhouse in Moscow, while Eralmor owned a luxury apartment in Moscow. Castelor held a share in a countryside resort in the Tver region northwest of Moscow for which it paid $58 million.

Kostin’s Alleged “Co-Conspirators” in Cyprus and Russia

The u.s. indictment against kostin bolsters the findings of a previous occrp investigation, which named two people who appeared to be used by kostin as fronts for his holdings: eric whyte and natalia solozhentseva..

Though the indictment does not name them, it identifies the two co-owners of a Cyprus firm, Gesford Holdings, as “co-conspirators” in helping Kostin evade sanctions — including by concealing the ownership of his two superyachts. 

The indictment alleges that these “co-conspirators” owned Gesford via two shell firms, Aktien Enterprises Limited and Ionics Nominees Limited. (The indictment misspells Aktien as “Atkien” and Ionics as “Ionic.”)

During the brief window when Cyprus’ beneficial owner registry was open, OCCRP identified the owner of Aktien as Eric Whyte, the son of a Canadian communist who moved to Moscow in the 1960s when Whyte was a boy. 

Properties linked to Kostin but held by Whyte included a luxury villa near the French coastal town of St. Tropez, a Paris property on the banks of the Seine, a luxury hotel in the Austrian Alps, and a winery in Ukraine’s occupied Crimean peninsula.

The U.S. indictment alleges that one of the alleged “co-conspirators,” who matches the description of Whyte, “served as a nominal owner for several of Kostin’s assets, and … created, owned, and controlled a business in Cyprus that managed several of Kostin's companies and assets.”

The other owner of Gesford was Natalia Solozhentseva, a former vice president of Kostin’s VTB Bank and board member of its Cypriot subsidiary. Solozhentseva was the beneficial owner of a Cyprus firm that bought stakes in the Russian franchise of fast food outlet KFC, as well as Russia’s leading discount retailer, Fix Price.

Her profile matches that of alleged “co-conspirator 2” in the U.S. indictment, which claims that she “was an employee of VTB Bank and opened an office in Cyprus specifically to assist with the management of many of Kostin’s shell companies and assets.”

The indictment accuses co-conspirators 1 and 2 of working together to manage Kostin’s superyachts, through a yacht management company based in Switzerland and a Cyprus-based company.

Neither Whyte nor Solozhentseva responded to a request for comment.

Since RAIFs were first introduced, the Cyprus company registry has publicly clarified that the ultimate investors in the funds must be declared, not just the fund managers, but it is difficult to know the extent to which this is being enforced. In November 2022, the European Union’s Court of Justice ruling struck down the requirement for member states to publish beneficial ownership information on privacy grounds, and the Cyprus registry closed to public access six days later. 

In July 2023, both of the Inveqo-managed funds used to hold the Kostin assets were dissolved, for reasons that remain unclear. Inveqo changed ownership in May 2023 and was itself dissolved earlier this year.”

Tatiana Tkatchenko contributed reporting.

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