Tycoon 'paid boat captain to steal and sink his yacht so he could collect $3m insurance money'

By Vinayak on Tuesday, September 10, 2013 with 0 comments

An auto-insurance tycoon whose 80-foot yacht was stolen from the dock next to his Mediterranean mansion has been accused of paying his boat captain to sink it so he could collect the insurance money.
Nicolas Estrella, 60, from Miami, who founded Estrella insurance in 1978, is locked in a legal dispute with Federal Insurance Company over a $3million claim for the loss of his yacht.
He strongly denies any accusations he paid to have his boat sunk and holds that it was stolen from his Key Biscayne home in May 2009.
Insurance fraud detectives arrested the yacht's former captain Robert Figuerdo on charges of stealing Star One and then allegedly sinking it off the Bahamas.
Now a witness has come forward in the case, claiming Figuerdo asked him to take part in the insurance fraud, telling him Estrella wanted to get rid of Star One because he was struggling to sell it.
According to the Miami-Dade Herald, Eric Mackenzie's statement is the first link to implicate Estrella in the alleged insurance fraud.

Category: News

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