Search continues for British tech tycoon Mike Lynch and Morgan Stanley International boss after yacht sinks in Sicily tornado

British tech tycoon Mike Lynch and his 18-year-old daughter are among six tourists missing after a luxury yacht sank in a tornado off the coast of Italy.

One person has been confirmed dead, believed to be the vessel's Canadian chef, while four of the missing passengers are British and two American, according to Italian newspaper la Repubblica.

The Palermo Port Authority told Canadian broadcaster CBC News officials recovered the body of Ricardo Thomas, a Canadian-born man who had been living in Antigua.

The British-flagged yacht, called Bayesian, had 10 crew and 12 passengers on board and sank at about 5am local time off the coast of Palermo.

Salvo Cocina of Sicily's civil protection agency said: "They were in the wrong place at the wrong time."

Jonathan Bloomer, chairman of Morgan Stanley International, and Chris Morvillo, a lawyer at major firm Clifford Chance, and both of their wives are also among the missing.

A spokesperson for Morgan Stanley said they were "deeply shocked and saddened" and added: "Our thoughts are with all those affected, in particular the Bloomer family, as we all wait for further news from this terrible situation."

UK insurer Hiscox, which Mr Bloomer also chaired, confirmed his wife is also among the missing on Tuesday.

"Our thoughts are with all those affected, in particular our chair, Jonathan Bloomer, and his wife Judy, who are among the missing," Aki Hussain, Group CEO of Hiscox said.

Mr Lynch's daughter, Hannah Lynch, also remains unaccounted for but his wife, Angela Bacares, was rescued along with 14 others - including a mother who held her one-year-old baby above the waves.

Charlotte Golunski, 35, told la Repubblica she lost her baby Sofia for "two seconds", adding: "I held her afloat with all my strength, my arms stretched upwards to keep her from drowning.

"It was all dark. In the water I couldn't keep my eyes open. I screamed for help but all I could hear around me was the screams of others."

The girl's father James Emsley also survived, Mr Cocina said. According to her LinkedIn profile, Ms Golunski is a partner at Mr Lynch's firm, called Invoke Capital.

Mr Lynch, described as the British Bill Gates, was cleared earlier this year of conducting a massive fraud over the sale of software company Autonomy to Hewlett-Packard (HP) in 2011.

Fifty meters beneath these now calm waters are the remains of a superyacht, which was carrying 22 people when it was hit by extreme weather.

Relentless rain and wind battered the north coast of Sicily in the early hours of Monday, causing widespread damage on the land, and proving fatal at sea.

Fisherman Fabio was the first to the wreckage and told Sky News: "There were two sailboats half a mile away from the harbour with their anchors at sea.

"After 10 minutes, we saw a flare in the sky. We waited about 10 minutes to see the intensity of the tornado and went out to sea.

"We were first to give rescue, but we found no one at sea. We only found cushions and the remains of the boat."

The weather was so bad overnight that locals described it as being like nothing they'd ever seen before.

Waterspouts - essentially like tornados on the water - tore into the coastline.

The yacht had been anchored. The sailing mast lights had been twinkling in the night sky. By morning, they were gone.

Authorities haven't given up on those still lost at sea: Divers have already found one body near the wreckage, and they know with every hour that passes, this rescue mission moves closer to becoming a recovery.

There is also some speculation about the design of the ship, and perhaps what happened to the 75m mast, which was iconic on this particular yacht.

It was said to be the tallest aluminium mast in the world, and people here last night were talking about how they could see it glistening by night.

It's thought that mast may have got caught up in this rotating column of cloud, these waterspouts that we’ve been talking about, and that may have caused it to break and may have caused the boat to then go on and capsize.

Investigators and inspectors from the UK Marine Accident Investigation Branch are making their way to Palermo today to assist.

Lynch's co-defendant killed in car accident

His co-defendant in that trial, Stephen Chamberlain, was separately confirmed dead after he was hit by a car on Saturday.

Gary Lincenberg, his lawyer, said in a statement: "Our dear client and friend Steve Chamberlain was fatally struck by a car on Saturday while out running.

"He was a courageous man with unparalleled integrity. We deeply miss him.

"Steve fought successfully to clear his good name at trial earlier this year, and his good name now lives on through his wonderful family."

Cambridgeshire Police said in a statement on Monday evening that the driver of the car, a 49-year-old woman from Haddenham, remained at the scene and is assisting with enquiries.

Divers have already made journeys underwater to search for the six missing people, Italian daily Giornale di Sicilia reports, but are facing significant challenges in trying to access the yacht.

Emergency responder Luca Cari told the news outlet the divers "can stay underwater for a maximum of 12 minutes, two of which are needed to go up and down," meaning "the real time to be able to carry out the search is 10 minutes per dive".

He added divers had identified a glass window on the Bayesian from which they could enter but said: "The spaces inside the sailing ship are very small and if you encounter an obstacle it is very complicated to move forward, just as it is very difficult to find alternative routes."

The UK Marine Accident Investigation Branch said four of its inspectors are being deployed to Palermo for a preliminary assessment, while cave divers have joined the ongoing search.

The hull of the ship is resting at a depth of 50 metres.

A spokesman for the Foreign, Commonwealth and Development Office (FCDO) said: "We are in contact with the local authorities following an incident in Sicily, and stand ready to provide consular support to British nationals affected."

-SKY NEWS