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Tommy ThompsonAmerican treasure hunter, explorer and engineer
Country:
 USA |
Content:
- Tommy Thompson: A Treasure Hunter's Rise and Fall
- Engineer with a Passion
- The Central America Expedition
- Columbus American Discovery Group
- Controversy and Legal Battles
- Financial Mismanagement
- Sell-Off of the Treasure
- Investor Lawsuits and Charges
- Disappearance and Capture
- Odyssey Marine Exploration
- Trial and Imprisonment
Tommy Thompson: A Treasure Hunter's Rise and Fall
Tommy Thompson, an American treasure hunter and engineer, embarked on a lifelong quest to recover sunken wealth.
Engineer with a Passion
After obtaining an engineering degree from Ohio State University in 1975, Thompson became intrigued by the idea of searching for sunken treasure. He joined Battelle Memorial Institute in 1981, where his interest in retrieving gold from the ocean floor took hold.
The Central America Expedition
By the 1980s, the advent of unmanned submersibles opened new possibilities for treasure hunters. Thompson meticulously studied wreck reports and shipping routes of vessels like the Titanic to pinpoint their locations. In 1985, he convinced a group of investors to join his search for the "Central America," a side-wheel steamer that sank off the coast of North Carolina in 1857 with 425 lives and an estimated 10 tons of gold.
Columbus American Discovery Group
With an investment of $12.7 million from 160 investors, Columbus American Discovery Group embarked on a nine-year venture. As lead partner, Thompson was to receive 40% of any profits, and his technical innovations, including the research vessel "Arctic Discoverer," initially impressed.
Controversy and Legal Battles
In 1987, insurance companies sued the expedition, claiming the ship's cargo was insured at the time of its sinking. The legal battle dragged on for 13 years, with an appellate court ruling in 1992 that a portion of the treasure be transferred to the insurers. However, the $5 million settlement was not paid until eight years later.
Financial Mismanagement
Despite the legal issues, Thompson continued to spend lavishly, potentially hoping to influence future legislation protecting treasure hunters from insurance claims. He launched a public relations campaign and licensed the production of books and documentaries about the expedition.
Sell-Off of the Treasure
Through a deal with sports promoter Dwight Manley, Thompson sold a portion of his gold coins to the California Gold Marketing Group. The company organized a traveling "Treasure Trove" exhibit, where Thompson basked in the public's attention. Manley eventually sold over 7,800 coins and melted down gold bars, producing ingots and commemorative coins.
Investor Lawsuits and Charges
Frustrated investors filed lawsuits in 2005 and 2006, demanding a full accounting and their promised share of the treasure. Allegations surfaced that the shipwreck actually contained 21 tons of gold, not 10. Thompson managed to secure additional $40 million in loans to retrieve the "remaining treasure."
Disappearance and Capture
Investors refused to drop their lawsuits, and in 2012, Thompson was indicted. After skipping several court hearings, he vanished, prompting a manhunt. Authorities discovered evidence of his whereabouts, including prepaid cell phones, bank money bands, and a book titled "How to Live Your Life Invisible."
Odyssey Marine Exploration
In 2013, assignees of Thompson's company contracted with Odyssey Marine Exploration to continue salvaging treasure from the Central America shipwreck. Operations began in April 2014, yielding thousands of precious metal coins, gold bars, and artifacts.
Trial and Imprisonment
Thompson was arrested in Palm Beach, Florida, in January 2015. He had been living at the Hilton with his assistant for two years, paying for everything in cash. During his brief trial, Thompson claimed severe health problems and sought to be transferred to Ohio for medical reasons. Despite his attorney's defense, he was convicted and sentenced to 10 years in prison.
