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The Yacht — CRYPTO LIFE: The Government Said $1.4 Million. The Paperwork Says $2,550,000.
THE GOVERNMENT SAID $1.4 MILLION.
THE PAPERWORK SAYS $2,550,000.
In its court filing, the government pointed to a $1,417,000 payment and treated it like the value of the boat.
It wasn't the price. It was one deposit — money moving through the financing on a much bigger deal.
Here is the actual deal, straight off the signed MarineMax purchase agreement, dated October 18, 2021:
2022 Galeon 640 Fly — "CRYPTO LIFE"
HIN GLN64019I122
Sale price: $2,550,000.00
Title, registration and filing: $19,190
Extended service contract: $33,860
Subtotal: $2,603,050
Deposit paid: $1,800,860
Balance financed: $802,190
Read that again. The deposit ALONE — $1,800,860 — is more than the number the government put in its filing.
And the purchase price was just the start:
Sound system (JL Audio, MarineMax East work order, November 2021): $152,546.21
One yard visit — service, bottom paint, PropSpeed, haul-out (April 2023): $39,800.39
Full custom wrap — the orange-to-purple CRYPTO LIFE you see in the photos: $20,000
Documented total: $2,815,396.60
Against the government's $1,417,000.
One more thing, because the headlines got this wrong too:
The boat was never seized.
A broker deal was signed in April 2024 to sell her — that deal never closed. She was sold another way, and the financing was closed out with the sale. Sold. Not seized. Not forfeited. Sold.
The documents are right here. Read them yourself.
— Dr. R Burton
