Police searching for missing dealer

Author:
Updated:
Original:

Police are investigating the disappearance of California yacht dealer Ed Fitzgerald, who allegedly owes customers, investors and employees hundreds of thousands of dollars.

Fitzgerald, owner of Dana Island Yachts in Dana Point, Calif., disappeared last weekend and is wanted by the Orange County Sheriff's Department as a person of interest in a possible fraud investigation, according to a report from KABC-TV in Los Angeles.

Authorities allege hundreds of thousands of dollars may be missing, according to the report. Some victims allege they lost money after investing with Fitzgerald, who promised them a high return. Others allegedly claim they paid years upfront for a boat slip, thinking they were getting a deal.

A note on the company's Web site says, "It is with great sadness that we must announce effective immediately Dana Island Yachts has ceased all yacht charter and brokerage operations while we undergo restructuring. If you had a boat listed for sale, your listing agent will be contacting you shortly."

Click here to read the full article.

Related

NMMA Confirms Industry Growth

NMMA president Frank Hugelmeyer said the boating business grew 12 percent last year during yesterday’s virtual State of the Boating Industry address.

Newport Show Dates Announced

Organizers are planning for an in-person Golden Anniversary edition of the show Sept. 16-19.

Quick Hits: March 5, 2021

The National Association of Manufacturers names Brunswick Corp. CFO Ryan Gwillim to its Board of Directors.

Caught Red-Handed

Two commercial fishermen were jailed for possessing an illegal haul that included 100 undersized lobster tails, which is a felony. Also, fisheries management gets new funding.

Bennington Expands Operations

The pontoon builder plans to add jobs at its new facility in Elkhart County, Ind., and increase manufacturing output.

KVH Industries Names CFO

Longtime telecom financial executive Roger A. Kuebel assumes the position that COO Brent Bruun had held in an interim capacity.