Mike Lynch's yacht was registered in wife Angela Bacares' name at the time of sinking

British entrepreneur Mike Lynch is still missing following the capsizing the yacht he was on near Sicily , in a case that has taken a bizarre twist as his recent co-defendant in a fraud trial died just two days ago .

While the billionaire has yet to be found, at least one person is confirmed dead from the accident while six are reported missing. Fifteen have been rescued, including Lynch's wife, Angela Bacares.

The luxury yacht "suddenly sank" from what's thought to have been "terrible weather conditions", according to NBC. Lynch, 59, is the co-creator of the software corporation Autonomy and established Invoke Capital.

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Who owned the Bayesian?

The yacht is legally owned by Lynch's wife Bacares, Forbes reported. It was built in Italy in 2008 by renowned boat builder Perini Navi.

BOAT International reports the yacht's naval architecture was developed by Ron Holland Design while the interior design is by Remi Tessier. It was originally known as Salute until 2016 when it was retrofitted and renamed Bayesian.

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When it comes to length, Bayesian is in the top 5 percent in the world. It can accommodate up to 12 guests in 6 staterooms, and it has room for 9 crew members.

It is also one of the world's tallest, with a single mast reaching 75 meters.

How much is the yacht 'The Bayesian' worth?

The Sun reports the 56-meter sailing yacht, called Bayesian, is worth £14 million, about $18 million. The average cost to buy a super yacht, which is a yacht between 37 to 60 meters, starts at about $10 million, according to Galati Yacht Sales.

Forbes said the cost to charter the Bayesian is $215,000 for one week. The yacht was listed for sale earlier this year, though it is no longer, according to BOAT International.