This does do damage to the entire charter industry. Long ago the other operators in the club would strive to find boats for the victims. I am surprise there is no journalism or industry reports on the issue.
In many jurisdictions, "spending the money now with the intent to pay it back later" is not a valid legal defense against a charge of commingling or misappropriation. The act of using the funds for a purpose other than the one agreed upon is often sufficient for a violation. I know nothing about BVI English Law.
I wonder if someone is still collecting deposits or "retainers" as Brett called them?
http://www.thecaptainscompass.com/Contact_Us.php
.
