Click for Cheoy Lee Click for Westport Click for Lurssen Click for Apollonian Click for JetForums

| Royal Denship | 63M | "Force Blue" | 2002/09 |

Discussion in 'General Yachting Discussion' started by rocdiver, May 22, 2010.

  1. rocdiver

    rocdiver Senior Member

    Joined:
    Oct 24, 2006
    Messages:
    189
    Location:
    Ft Lauderdale, Florida
    Former Formula One boss Flavio Briatore's luxury yacht has been seized as part of a £4.1million tax evasion investigation.
    Police in high speed boats followed the 60m Force Blue for several miles at dawn yesterday before it anchored.
    Briatore, 61, was not on the £15million vessel when they boarded but his wife, Elisabetta Gregoraci, 28, and two-month-old son Falcon Nathan were.


    The seizure in Genoa on the Italian Riviera marked the end of a year-long investigation.
    Briatore, who co-owns Queen's Park Rangers football club, is accused of failing to pay taxes and VAT on £4.1million of fuel.
    He claims the yacht, which has a crew of 17 and sleeps 12, can be hired for £240,000 a week and is registered out of the EU, in the Cayman Islands, for a tax break.
    But prosecutors are looking into claims it is not chartered and that the family spend much of the year on board.
    The yacht, bought in 2002, was seized because of 'fears further crimes might be committed', according to papers served by customs and excise.


    Read more: http://www.dailymail.co.uk/news/wor...ce-Blue-seized-fraud-probe.html#ixzz0odxumQaD
  2. K1W1

    K1W1 Senior Member

    Joined:
    Sep 30, 2005
    Messages:
    7,384
    Location:
    My Office
    Hi,

    It's actually called Force Blue so it has the same initials as the Owner.

    The trick of commercially registering to avoid tax and duty on goods and services is an old one, the authorities in countries that border the Med are supposedly tightening up on this "scam".

    If they are commercially registered there should be a charter contract in force when any of them are onboard using the boat. The boarding party can and will ask who the charter principal is in person.

    The authorities have the power to search the boat and seize any undeclared items not limited to but including cash.

    One of my clients keeps his 70+m yacht privately registered just so he can remain a very private person.

    This means he pays VAT and Duty on everything including fuel bought or used by the boat while it is in the Med.
  3. Yacht News

    Yacht News YF News Editor

    Joined:
    Mar 29, 2006
    Messages:
    20,921
    Location:
    Caribbean
    Very interesting and sad as well...
  4. Kevin

    Kevin YF Moderator

    Joined:
    Nov 25, 2004
    Messages:
    2,808
    Location:
    Montreal, Qc, Canada
    Anything bad that happens to FB is hardly sad at all... after Singapore '08 he deserves every bit of grief he gets.
  5. Pascal

    Pascal Senior Member

    Joined:
    Feb 29, 2008
    Messages:
    6,476
    Location:
    Miami, FL
    Amen to that! and that wasn't the first time he was caught cheating... remember the tire controversy in Hungary (2006?).. and more...
  6. Kevin

    Kevin YF Moderator

    Joined:
    Nov 25, 2004
    Messages:
    2,808
    Location:
    Montreal, Qc, Canada
    I can actually understand cheating... I don't condone it, but I accept that it's part of racing. Always has been, always will be. (You know the old saying: If you aren't cheating, you aren't trying.)

    Putting someone's life in danger to fix a result though? Unacceptable!
  7. saltysenior

    saltysenior Senior Member

    Joined:
    Aug 22, 2009
    Messages:
    265
    Location:
    stuart,fl.
    never could understand people who bought multi-millon dollar boats and then cheat on taxes to save money..........when i strike it rich in the wall street stock market,my mega yacht will have New York, N Y on the transom, not cayman or panama...:eek:
  8. maldwin

    maldwin Senior Member

    Joined:
    Sep 20, 2009
    Messages:
    270
    Location:
    Dark Harbor Me/ Hobe Sound Fl
    Why not Stuart,Fl?
  9. ArcanisX

    ArcanisX Senior Member

    Joined:
    Jul 22, 2009
    Messages:
    309
    Location:
    Tel Aviv.
    don't want to bother a potentially scandalous topic, but I actually understand them perfectly and can even explain. Not everyone get rich by some tricky stock scheme - some actually work for it. And those people get rich by learning to control their spendings as well as their income.
    The moment your taxes start amounting to millions in itself, some ask themselves a simple question of "why". While there is a rich vein of rhetorics for it ("giving back to your country" and stuff), matter of fact is, the government is not the country. I know, well, pretty serious guys who establish and manage their own charity operations for the "giving" part, yet would squeeze off every dime to be given to some bureaucrats to fly first class, buy too-big-to-fall bankrupts out, procur nails for army at $10 000 each and many other ways to "redistribute" government budget. And it somehow makes perfect sense to me.

    It's not that FB isn't a jerk, but hey, give the guy a break, he's been banged pretty hard for the last year already.
  10. dennismc

    dennismc Senior Member

    Joined:
    Jan 29, 2009
    Messages:
    1,164
    Location:
    Vancouver BC
    Blue Force

    Oh well, lets yell at at a politician who has an AF jet take him on a site seeing trip over NY and scare the hell out of people at the peoples expense and then complains at the excesses of the stock market types......I love the double standard of the politicos, they are so obvious in their wanton disregard for other peoples money and yet amazed at the peoples disgust. One day they may realize that the economy functions better when the people spend the money and not the politicians, I see the UK is worried about Government cutbacks, their GDP is 25% of Government spending , no wonder they are in such a mess. Sure does not help the boating industry as we are looked on as a source of tax revenue for the wasters to spend.
  11. travler

    travler Senior Member

    Joined:
    Oct 14, 2008
    Messages:
    276
    Location:
    roche harbor wa
    politicans are like parasites you feed them untill they no longer produce then you get rid of them and train a new one , it's much better to own the wright ones than be one

    KEVIN
    in raceing if there is no ruel aginst it , it is not cheating , its just being inovative

    on the move travler
  12. Yacht News

    Yacht News YF News Editor

    Joined:
    Mar 29, 2006
    Messages:
    20,921
    Location:
    Caribbean
    News is that "Force Blue" has been released from her impounded status...presumably so she can charter in Summer?
  13. Yacht News

    Yacht News YF News Editor

    Joined:
    Mar 29, 2006
    Messages:
    20,921
    Location:
    Caribbean
    Well this yacht has been thrown back into the spotlight with the news that Bernie Ecclestone has purchased the vessel. Two peas in a pod?

    Attached Files: