Treasure Hunter Who Found Historic Shipwreck Freed After Decade Behind Bars

Tommy Thompson, who discovered one of America's most famous shipwrecks in 1988, has been released from federal prison after more than 10 years. The treasure hunter was jailed for refusing to reveal the location of 500 missing gold coins worth $2.5 million from the historic find.

A deep-sea explorer who discovered one of America’s most significant underwater treasures has walked free from federal prison after spending more than ten years locked up for withholding information about missing gold coins, according to federal records.

Tommy Thompson was released from custody last Wednesday, as confirmed by Bureau of Prisons documents obtained by The Associated Press. The Ohio native gained national fame in 1988 when he found the legendary S.S. Central America wreckage off South Carolina’s coastline.

The research scientist became a celebrated figure after uncovering the vessel and its massive treasure trove, which had rested on the Atlantic Ocean floor for over 150 years following its tragic sinking.

However, Thompson’s story took a dark turn in subsequent years as financial backers claimed he defrauded them of millions. He eventually became a wanted fugitive before landing in prison for defying judicial orders, all while insisting he had no knowledge of what became of 500 gold coins created from the shipwreck’s precious metal.

The Central America carried an enormous fortune from California’s Gold Rush era when it went down during a devastating hurricane in 1857. The disaster claimed 425 lives and sent thousands of pounds of gold to the ocean depths, helping trigger a nationwide financial crisis.

Financial supporters of Thompson’s expedition filed suit against him in 2005, claiming they never saw a penny from the $50 million generated by selling more than 500 gold bars and thousands of coins — representing only a portion of the ship’s wealth.

Thompson, who had relocated to Florida, disappeared from public view before becoming a federal fugitive in 2012 when an Ohio judge issued an arrest warrant after he skipped a court appearance.

Law enforcement officers found Thompson at a Florida hotel three years after the warrant was issued. The presiding judge subsequently found him in contempt and ordered his imprisonment at the close of 2015 for his refusal to discuss the missing coins’ location.

Thompson, who is now 73 years old, consistently claimed the coins — worth approximately $2.5 million at the time — had been transferred to a Belize-based trust. He also stated that most of the $50 million from the initial gold sales went to cover attorney fees and outstanding loans.

His incarceration continued despite federal statutes typically capping contempt-related jail time at 18 months. In 2019, a federal appellate court dismissed Thompson’s legal challenge, ruling that his non-compliance breached the terms of his plea deal.

During a 2020 video hearing, U.S. District Judge Algenon Marbley once again questioned whether Thompson was prepared to reveal the gold’s location.

“Your honor, I don’t know if we’ve gone over this road before or not, but I don’t know the whereabouts of the gold,” Thompson replied. “I feel like I don’t have the keys to my freedom.”

This past February, Judge Marbley decided to terminate Thompson’s civil contempt sentence, stating he no longer believed continued imprisonment would yield results. The judge then directed Thompson to begin serving a two-year term for failing to appear at the 2012 hearing.

Dwight Manley, a California coin merchant who purchased and resold nearly all of the treasure, commented Monday that Thompson faced excessive punishment for what essentially constituted a commercial disagreement.

“Going to prison for 10 years over a business dispute is not America,” Manley stated. “People kill people and get out in half the time.”