V1 WAS FISHING OFFSHORE.  V1 OCCUPANTS ATTEMPTED TO REMOVE ANCHOR ATTACHED TO V1'S TRANSOM FROM GULF BOTTOM.  V1 OPERATOR UTILIZED V1'S ENGINE IN HOPES TO REMOVE THE ANCHOR, BUT V1 IMMEDIATELY SWAMPED OVER THE STERN (TRANSOM), SUBMERGING V1 AND CAUSING IT TO ROLL PORT AND CAPSIZE. ALL V1 OCCUPANTS WERE EJECTED.  THREE OCCUPANTS WERE WERE WEARING PFD'S, WHILE THE FOURTH OCCUPANT WAS WEARING A THROWABLE TYPE IV FLOTATION. ALL FOUR OCCUPANTS STRUGGLED TO STAY ATOP THE CAPSIZED VESSEL, WHILE WATER WAS TO THEIR CHESTS.  THREE OCCUPANTS SUCCUMBED TO THE EFFECTS OF HYPOTHERMIA.  THE LAST OCCUPANT OF V1 WAS RESCUED BY USCG ON MARCH 3RD, 2009.  V1 WAS RECOVERED ON MARCH 4TH, 2009.
ST PETERSBURG                 