Key Points
The United States Attorney's Office for the Southern District of New York has contacted former OceanGate employees and expedition members as part of an investigatory probe, WIRED has learned from multiple sources..
The carbon fiber submersible Titan imploded on a tourist trip to the wreck of the Titanic in June 2023, killing the five people on board, including OceanGate founder and CEO Stockton Rush...
The apparent success of the leaseback arrangement might explain how Rush was able to attract what was OceanGates largest ever investment in 2020, at a time when the company was working on the expensive task of replacing the Titans first hull that had cracked during testing..
Several witnesses at the Coast Guard hearings testified to what they perceived to be OceanGates financial difficulties in the run-up to the final Titanic expedition, including Rush foregoing his salary and occasionally loaning the company money from his personal funds...
In that case, the family of famed Titanic explorer Paul-Henri Nargeolet is seeking $50 million for his death aboard the Titan, with the lawsuit naming as defendants OceanGate, Rushs estate, and a number of other individuals and companies connected to the ill-fated submersible..
