.......

I think that boat was once owned by Richard Castelini (He owned a pipe line construction company called R.T. Castelini of Vineland New Jersey). He had a dealership deal with Profile in which they would build him a race boat if would sell/broker some boats on the east coast. He raced a 31' Profile in the early to mid 90's called "Rip - N - Tear" ( the Boat was Pink). The boat raced 2 or 3 season and then disintegrated at a race on the Chesapeake. He had an all white 37' with 500 hps as a demo he was trying to sell. He died in the Bahamas of a head injury riding a bicycle. The boat bounced around from used boat lot to lot in South Jersey because his family/estate tried to unload it.

Pictures of Rip-Tear

This Richard Castellini or his father?
PRESS RELEASE

NEW JERSEY MAN SENTENCED FOR MONEY LAUNDERING IN CONNECTION WITH LARGE-SCALE OFF SHORE ILLEGAL TRUST PROGRAM
BASED IN COSTA RICA

Boston, MA... A New Jersey man was sentenced to 21 months in federal prison today for conspiring to launder money and laundering money-- most of it through an illegal offshore trust program that was also used by clients to move and conceal millions of dollars overseas in an effort to avoid paying U.S. taxes.

United States Attorney Michael J. Sullivan and Joseph A. Galasso, Special Agent in Charge of the U.S. Internal Revenue Service, Criminal Investigation, announced today that RICHARD CASTELLINI, age 36, of 155 Carmel Road, Bridgeton, New Jersey, was sentenced by U.S. District Judge Joseph L. Tauro to 21 months' incarceration, to be followed by 2 years of supervised release. CASTELLINI was convicted by a trial jury on July 19, 2002, of money laundering and money laundering conspiracy.

In March of 2001, an indictment was returned charging CASTELLINI and five others with money laundering conspiracy, money laundering and international money laundering. The defendants were charged in connection with the concealment of assets and false statements relative to bankruptcy and bank fraud. The following co-defendants were previously convicted on the same charges: Wayne Anderson, age 55, of 46015 Chuckwagon Road, Squaw Valley, California; Karolyn Grosnickle, age 58, of North 250 Fairway Drive, Hoodsport, Washington; Richard Marks, age 57, of 1250 2nd Street, Los Osos, California and Michael Gonet, age 49, 264 Gleasondale Road, Stow, Massachusetts. The last defendant, Keith Anderson, age 59, of Villa Punta Canon, Santa Ana, Costa Rica was recently extradited from Costa Rica in order to face the charges.

According to evidence presented during the trial, Anderson Ark and Associates ("Anderson Ark") is a Costa Rican offshore trust program that provides wealthy clients from the United States with the mechanism to move funds, on which they were obligated to pay taxes, offshore to Costa Rican bank accounts set up to make it appear that the funds were neither owned nor controlled by the clients. Anderson Ark clients in fact owned and controlled the accounts. Anderson Ark helped the clients repatriate the money in various ways, thus giving them the use of the untaxed money. For example, clients were able to avoid U.S. taxes (and launder funds) by deducting fictitious consulting invoices as business expenses on U.S. federal income tax returns.

The evidence at trial established that from approximately March 1999 through at least December 2000, CASTELLINI assisted an individual who, unbeknownst to him, was an undercover IRS agent, to launder money that he represented as concealed assets from a bankruptcy court. The undercover agent told CASTELLINI that he was seeking to conceal the proceeds of the fraud in connection with a bankruptcy so that he could invest them in a new business venture. In various stages, CASTELLINI and the other co-defendants moved the money either overseas, or through bank accounts in the United States and, after deducting a substantial fee for laundering the funds, returned it to bank accounts controlled by the undercover agent. Certain defendants told the undercover agent that they had laundered assets for other individuals in the past.

Bowtie,

That's one of his sons. He just go out of jail. I saw him at the AC Boat show. He owns a boat dealership just outside of Woodbine/Sea Isle NJ. I think he was hiding some of his Dad's $millions. His Dad's company (R.T. Castelini ) was sold to South Jersey Gas Company and was appointed to the board of directors. His father was a pretty go guy. Richard Jr. is also a pretty nice guy that got caught up in trying hide some $.

thing's that make you go HHHHMMMMM

What? You didn't contact them 1st? I don't know about that. Tread carefully.


Kinda makes you go Hmmm, eh?
We need more pics posted to show what the 'deleter' doesn't want us to see. :)


2 different yr motors: Different yr valve covers, flame arrestor, drive bottles.

SM exhaust replaced the Merc/Gil exhaust. Anodes look almost gone from the drive trim rams. (Kinda makes you wonder about the 'maintance schedule')

He owns a dealership close to me. And he is a pretty good guy, I've dealt with him several times and he's always been more than fair with me.

I hope it is cheap!! and I mean cheap. looks like a big project and what do you have in the end?:rolleyes:

I agree with you. I do not usually have much sympathy for this type of sh-t, but he really learned his lesson. His father was a nice man.

I think he selling or has dealership for Boston whalers ??