Over

3,000 migrants fleeing from poverty and conflict, the Council on Foreign Relations recently noted, died last year trying to cross the Mediterranean into Europe.

Those deaths made barely a ripple in most of the world’s major news media. But this summer one single tragedy on the Mediterranean has been making globs of global headlines.

On Monday, August 19, amid a fearsome sudden storm, a boat deemed “unsinkable” sank off the coast of Sicily’s Palermo. Seven of the 22 people on board perished.

What made this sinking so newsworthy? The ship that sank just happened to be a luxury sailing yacht that sported the world’s tallest aluminum mast. And the casualties from that superyacht’s sinking just happened to include the high-tech CEO once hailed as the “British Bill Gates.”

That chief exec, the yacht’s owner Mike Lynch, had envisioned this voyage as a celebration over a decade in the making. Just weeks earlier, after years of legal battling, a federal jury in Northern California had acquitted Lynch and one of his VPs on charges they had artificially inflated the value of Lynch’s software company. That inflating, prosecutors charged, had sealed the firm’s 2011 sale to Hewlett-Packard for over $11 billion, a deal that netted Lynch personally about $800 million.

But within a year after the sale the value of Lynch’s company had tanked by some $8.8 billion, and H-P was referring allegations of accounting improprieties against Lynch to the British Serious Fraud Office and the U.S. Securities and Exchange Commission. The referrals would eventually produce a civil-suit victory for H-P and a 2019 criminal conviction of a key exec at Lynch’s firm.

The 59-year-old Lynch and his finance VP Keith Chamberlain would have much better luck in their own criminal trial on similar charges. Unfortunately for them, they’ll never get to enjoy their acquittal. Lynch drowned in the sinking of his yacht, as did Lynch’s top trial lawyer and the chair of financial giant Morgan Stanley’s international arm, a star witness for Lynch’s defense.

What made this Lynch yacht sinking particularly irresistible for the world’s media? On the same day as the sinking, reports surfaced that Lynch’s acquitted co-defendant Chamberlain had just died after a car ran him over while he was jogging. A sheer coincidence? And how could the captain of Lynch’s superyacht and all but one of his crew escape the boat’s........

© Common Dreams