Law Practice
Jun. 20, 2002
Lawyer Gets Prison For Sinking Pricey Yacht
LOS ANGELES - A Beverly Hills lawyer was sentenced Tuesday to 90 months in federal prison for trying to sink a yacht off the coast of Southern Italy to collect $3.6 million in insurance money.
Rex K. DeGeorge collected millions off three other sunken luxury boats. In purchasing the 76-foot, custom-built Principe de Pictor, DeGeorge concealed his ownership from insurance companies.
U.S. District Judge Lourdes G. Baird ordered DeGeorge to pay nearly $2.8 million to Cigna Property and Casualty Insurance, the company's cost for successfully fighting off an attempt to collect on the Principe de Pictor, Assistant U.S. Attorney William G. Bottger said.
David Dudley, DeGeorge's lawyer, could not be reached for comment.
DeGeorge was convicted March 3, of 15 counts of conspiracy, mail and wire fraud and perjury. The Italian costguard found the badly damaged yacht and towed it to shore. DeGeorge and two companions were in a nearby dingy.
The men claimed Russian pirates commandeered the vessel but realized it was too slow for drug running. The pirates, instead, punched holes in the yacht and sped away on a cigarette boat, they claimed. Paul A. Ebeling and Gabriel Falco later admitted sabotaging the boat and testified against DeGeorge.
DeGeorge, 65, is not licensed to practice law in California.
David Houston
david_houston@dailyjournal.com
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