Federal Investigators Probe OceanGate's Financial Arrangements Following Submersible Implosion

The US Attorney's Office for the Southern District of New York is conducting an investigation into OceanGate's financial dealings, including its use of sale/leaseback agreements with multiple companies. The probe follows the June 2023 implosion of the Titan submersible, which killed five people, including CEO Stockton Rush. Documents obtained by WIRED reveal a complex corporate structure involving for-profit and nonprofit entities, raising questions about the flow of funds and potential financial irregularities.

Source: https://www.wired.com/story/oceangate-federal-investigation-titan-submersible-implosion/