Treasure Hunter Released After Ten Years in Prison Over Hidden Gold Coins
Tommy Thompson, a 73-year-old treasure hunter, has been freed from jail after spending a decade behind bars for stubbornly refusing to disclose the whereabouts of 500 missing gold coins. According to CBS News, his release occurred at the start of this month after a judge determined he was unlikely to ever reveal the coins' location.
Despite gaining his freedom, Thompson faces significant penalties. He must undergo one year of supervised release and pay fines totaling £189,000. Representative Abraham Hamadeh, a Republican from Arizona, advocated for Thompson's release and told the New York Times, 'I am glad he is finally a free man.'
The Ship of Gold Wreck and Legal Battles
Thompson's imprisonment stemmed from a long-running legal dispute that began in 2015, focusing on the location, value, and ownership of coins and recovered treasure. The controversy centers on his 1980s treasure hunt to find the wreck of the SS Central America, also known as the Ship of Gold.
This steamship sank in a hurricane in 1857, resulting in the deaths of 450 passengers and leaving an estimated 30,000 pounds of gold coins, bars, and nuggets at the bottom of the ocean. Thompson convinced approximately 250 investors to provide £9.4 million to fund the search, with the promise of returns if treasure was discovered.
In 1988, Thompson and his crew located the wreck 7,000 feet below sea level off the coast of South Carolina, recovering about two tonnes of gold. However, investors received nothing from the find. The ship's entire treasure trove is valued at up to £1 billion, with much still remaining on the sea floor.
Missing Coins and Legal Consequences
Most of the recovered gold was sold to a gold marketing group in 2000 for around £38 million. The coins in question were made from recovered gold bars using a 19th-century machine from the San Francisco Mint. Thompson claimed they were part of his share and transferred them to a trust in Belize around 2009, but he has repeatedly stated he does not know their current location.
According to CBS News, Thompson argued that profits from the initial gold sale went largely toward legal fees and bank loans. Many investors disputed this, leading to lawsuits starting in 2005. A criminal case later alleged that gold bars and coins from the wreck were worth up to £300 million.
As legal proceedings advanced, Thompson disappeared in 2012 with his associate Alison Antekeier, just before a court appearance. They were arrested in 2015 in Boca Raton, Florida, where police found £321,000 in cash in their hotel room, which was later confiscated. Court records revealed they had lived in hotels for two years, paying cash under false names and using taxis and public transport to avoid detection.
Contempt Charges and Release Details
Thompson was jailed for contempt of court after refusing to answer questions about the missing coins and failing to appear before a judge. While civil contempt sentences are typically indefinite, his contempt order was dropped in 2024. He then served an additional two years for the initial charge of failing to appear, delaying his release until earlier this month.
The Justice Department in the Southern District of Ohio, which had pushed for Thompson's continued incarceration, has not commented on his release. Lawyers for the Dispatch Printing Company, which sued Thompson over investment recovery, have also remained silent. Metro has reached out to both parties for comment.
It remains uncertain whether the 500 gold coins will ever be found. Thompson's lawyer, Keith Golden, aptly named for the case, insisted, 'Every last piece of gold dust was accounted for.' The saga highlights the complex legal and ethical issues surrounding treasure hunting and investor disputes.
