RedactedNarrative: Vessel 1 was in 23-26 feet of water.  Operator stated they took a large wave over the stern of the boat, the bilge pump turned and then a second wave came over the Stern. The operator stated the bilge pump could not keep up and the boat began to take on more water until it went under water and turned over.  Bothe the Operator and Passenger stated the plug was in the boat.  Operator stated that he intended to junk the boat.