In 1999 DeGeorge, Ebeling and Falco were indicted on federal fraud charges relating to the Principe di Pictor's sinking.

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In 1992 DeGeorge acquired a 76-foot yacht he christened the Principe di Pictor.

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The Principe di Pictor was sinking, several large holes in its side.

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The 2002 trial featured evidence from Ebeling and Falco about how they and DeGeorge used saws and electric drills to pierce the Principe di Pictor's hull, then threw them overboard as Italian authorities neared and DeGeorge coached them on their story.

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