The yacht Harlech, stolen from Opua earlier this month, has been found damaged near Sydney with suspected fraudsters Paul James Bennett and Simone Anne Wright on board.
The $145,000 fibreglassed kauri cutter - owned by Whangarei couple Steve and Carol Holland - was stolen from its mooring at Opua at the start of the month and suspicion almost immediately turned to Bennett and Wright, who had been on the run for some time over allegations of fraud and a sex attack on a teenage girl in Auckland.
Picton businessman Mike Jacomb put up a $50,000 bounty on the pair after he claimed that the pair had fleeced his company of $250,000.
New South Wales Police confirmed they had arrested a Kiwi couple on a boat in Broken Bay, north of Sydney. It's been confirmed they were the fugitives and police said they were arrested on suspicion of stealing a boat.
Mr Holland said today it had been confirmed that the yacht found was Harlech and he was pleased that it had been found. He did not want to comment further until he had spoken to police.