RedactedNarrative: On October 30,2016, at approximately 1400 hours, the vessel and its occupants were approximately 12-15 miles offshore and anchored.  Subject heard the vessel taking on water.  Everyone donned personal flotation devices while (owner/operator) contacted USCG.  Subject started the engines and moved the vessel approximately 200 yards before they started smoking black smoke and subsequently expired.  
  
  Tow Boat U.S. arrived on scene.  Captain assisted four occupants onto his vessel.  According to the operator, he requested Tow boat US to pump the vessel.  Tow Boat US told Subject it was going to cost him $3000.00 to salvage the vessel.  Furthermore, a documented vessel (Tropical Breeze) arrived on scene to assist; however, Tow Boat US told them to leave.   
      
  Subject remained on the sinking vessel, while attempting to bail the water out with a five gallon bucket.  Subject’s effort was thwarted and he joined his remaining crew onboard Tow Boat U.S.’s vessel minutes before it sank.   
  
  Coast Guard arrived on scene after the vessel sank.  Captain Tow Boat US transported all individuals to shore.  No further action was taken by either Tow Boat U.S. or U.S.C.G.   
  
  Note:  Subject stated he paid $80 to the USCG in order to document his vessel (IV C's).  There is no record of documentation or registration for the vessel.  Moreover, Subject stated all pertinent information pertaining to his vessel was onboard.