Authorities Respond to Luxury Yacht Incident Near Plymouth, Uncover £2.3M Hidden Onboard

A routine rescue operation turned into a sensational discovery this week when a yacht arriving from Jersey ran aground near the South Devon coast.

Published on 2025-10-10 08:08 by By [Firstname Lastname]

Emergency services were dispatched to the South Devon coast earlier this week following reports of a stranded luxury yacht. The vessel, which had arrived from Jersey, had run aground in shallow waters near Plymouth. Initial concerns centred on the safety of those aboard, but the situation quickly took an unexpected turn.

Coastguard teams found the yacht resting against a rocky outcrop but otherwise intact. Two crew members were onboard and were safely evacuated without injury. While the cause of the grounding remains under investigation, authorities noted that weather conditions were calm, suggesting human error or navigational issues may have played a role.

As standard procedure, customs officials boarded the yacht shortly after the rescue. While inspecting the interior, officers uncovered several hidden compartments built into the cabin walls and floorboards. The compartments were unusual in design and required tools to access, raising immediate suspicions.

Inside the concealed spaces, officials discovered tightly wrapped bundles of banknotes in multiple currencies. An initial count revealed over £2.3 million, primarily in high-denomination British pound notes, with a smaller quantity of euros and U.S. dollars also present. The cash was not declared and lacked any documentation explaining its presence onboard.

Investigators have confirmed that the yacht is registered to a shell company based in the British Virgin Islands, making the ownership trail more complex. Authorities are now working with international partners to trace the origins of the funds and determine whether money laundering or other criminal activity is involved.

Local police have taken over the investigation, with financial crime specialists examining both the cash and the yacht’s navigation logs. CCTV footage from the Plymouth harbour and nearby marinas is also being reviewed to understand the vessel’s movements before the incident.

Residents in the nearby village expressed surprise at the high-profile scene unfolding on their normally quiet stretch of coast. 'You don’t expect a superyacht full of cash to end up on your doorstep,' one local said. 'There’s been a lot of talk in the pub about what might really be going on.'

The crew members, both foreign nationals, have been detained for questioning but have not yet been formally charged. Legal representatives for the individuals have declined to comment, citing the ongoing nature of the investigation and their clients’ right to remain silent.

Meanwhile, the yacht remains impounded in a secured dock under 24-hour watch. Forensic teams are continuing to search the vessel for electronic devices, documents, or additional compartments that could shed further light on the mystery. Early indications suggest the craft was used for more than just leisure travel.

Officials say it could take weeks or even months before a full picture emerges. In the meantime, the South Devon grounding has drawn national attention — not just for the dramatic nature of the incident, but for the larger questions it raises about financial crime and maritime oversight in UK waters.