Colombia plans to start exploring their sunken treasures in 2014

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This law is pending only a formality regulatory which is scheduled for January next year, giving way to tender to explore and then extract what's under the sea, said in an interview with Efe Colombian Culture Minister Mariana Garces. "Colombia has approximately 1,300 shipwrecks. Of those, according to historians, between five and seven can be galleons economic interest," Garces said.

The controversial law provides that the company that wins the bid to extract the wealth of the galleons can keep up to 50% of the objects of trade exchange value considered repeated: gold and silver bullion, coins, precious stones not intervened by man and industrial cargoes. Instead, all parts that do not meet this criterion will be considered repeat Colombian heritage and, therefore, property of the nation. 's greatest treasures seems to be the galleon San José, a flagship of the Spanish Navy ship sunk by gunfire in 1708 by English pirates off the coast of Cartagena de Indias with great wealth in their cellars. "Some say there are 6,000 million, others say there are 3,000 others say that San Jose has been looted, "said the minister, who also opened the possibility that the galleon is not in the place where it is believed.

And in 2007 the Supreme Court of Colombia ruled that U.S. treasure hunting company Sea Search Armada has rights to 50% of the treasure of San Jose if you are in the coordinates that the company claimed. "We're hoping to finish that ultimately judicial decisions (on San Jose), we are confident will be favorable to us, to establish the mechanism of exploration, "said the minister about this process that is still in court. Submerged Heritage Act, approved this year, also provides that the priority for extracting treasures submerged the Colombian State, but the minister acknowledged that the country "has technological developments in the field." Responsible for the public company would do Dimar (General Maritime) Garces acknowledged that they have not yet begun to work on developing a technology that permits it. The Minister also referred to the rest of sunken ships, nearly 1,300 that have no economic interest but scientific and heritage. "We would have underwater explorations for our history, not only with the only commercial mood. That's not our interest, not our priority," he said Garces.

Courtesy RT

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Hunt for sunken treasure comes up empty

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Greg Brooks of Sub Sea Research poses alongside the salvage ship Sea Hunter in Boston Harbor. Brooks will use the Sea Hunter to salvage the cargo of 71 tons of platinum now worth about $3 billion from the British merchant ship Port Nicholson which was sunk by a German U-boat in 1942.

By Doug Fraser

Treasure hunter Greg Brooks has burned through at least $8 million of investor money in his hunt for a supposed fortune in platinum, gold and jewels on a sunken World War II freighter 50 miles northeast of Provincetown.

But now he is considering ending his hunt and selling off expedition assets, including the main salvage vessel.

According to his own records and status reports filed with the court, Brooks spent less than 80 days at sea in his first five years attempting to salvage treasure from the S.S. Port Nicholson, which sank after being torpedoed by a German submarine. He gained wide publicity but now appears to be quietly giving up, despite insisting there are billions on board the ship, according to documents filed in a court case contesting ownership of the freighter's contents.

Read more: Hunt for sunken treasure comes up empty

Florida treasure hunter commits suicide

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By Chuck Brittain 

A former Westmoreland County man who made national headlines claiming to have found lost treasure off the Florida coast was found dead Tuesday in Ligonier Township after suffering a self-inflicted gunshot wound to the head.

The Westmoreland County Coroner's office identified the victim as Jay E. Miscovich, 54, of Key West, Fla.

Deputy Coroner Joshua Zappone said Miscovich was found in the yard of an unoccupied house owned by Dr. Donald Ray of Greensburg.

Zappone described Miscovich as a “drifter” who once lived in the house. Coroner Ken Bacha pronounced him dead at the scene at 5:15 p.m. Miscovich shot himself with a 12-gauge shotgun.

Miscovich, a self-proclaimed “thrill seeker,” claimed that he discovered 154 pounds of emeralds worth untold millions in the Gulf of Mexico, about 40 miles off Key West, Fla., in 2010, according to court documents.

Miscovich, a Latrobe native, his partner and their company, JTR Enterprises, were awaiting a court decision from a federal judge in Florida after they were sued for fraud by rivals for the shipwrecked treasure.

Read more: Florida treasure hunter commits suicide