Tommy Thompson Released After Decade in Prison for Contempt

Tommy Thompson, a 73-year-old American treasure hunter, was released from federal prison on March 4, 2026, after serving ten years for contempt of court. Thompson gained fame in 1998 for discovering the SS Central America, a shipwreck that sank in 1857 while carrying over 30,000 pounds of gold and more than 400 passengers. The ship, often referred to as the "Ship of Gold," sank off the coast of South Carolina, contributing to the financial panic of that year.

The Sun - USTreasure hunter freed from jail after refusing to turn over Ksh6.4B shipwreck goldThe Guardian

The SS Central America was transporting gold minted in San Francisco when it sank at a depth of approximately 7,000 feet. Thompson's discovery of the wreck led to the recovery of thousands of gold coins and bars, which he sold for around $50 million in 2000. However, his relationship with investors soured when they accused him of failing to distribute the proceeds from the treasure, leading to a lawsuit in 2005.

Treasure hunter freed from jail after refusing to turn over Ksh6.4B shipwreck goldThe Sun - USThe Guardian

Thompson became a fugitive in 2012 after failing to appear in court. He was located in a Florida hotel three years later, living under an assumed name. In 2015, a judge held him in contempt for refusing to disclose the location of approximately 500 gold coins valued at $2.5 million. Despite federal laws typically limiting contempt sentences to 18 months, appellate judges ruled that Thompson's case was an exception due to his violation of a plea agreement.

The Guardian

In 2020, Thompson reiterated his claim of ignorance regarding the coins' whereabouts, stating, “I don’t know if we’ve gone over this road before or not, but I don’t know the whereabouts of the gold.” A judge eventually concluded that Thompson was unlikely to provide any information about the missing coins and ordered the end of his contempt sentence, leading to his release.

The Sun - USThe Guardian

Thompson's case has drawn criticism from investors who feel cheated out of their rightful share of the treasure. They argue that his refusal to cooperate has prolonged their financial losses and complicated legal proceedings. The investors' lawsuit against him was dismissed in 2018, but the sentiment of betrayal remains among those who financed his treasure-hunting endeavors.

The Sun - US

Thompson's legal representatives have maintained that he acted in good faith and that the missing coins were turned over to a Belize-based trust. The judge's decision to release him was based on the assessment that further incarceration would not yield new information regarding the coins.

The Guardian

• “I feel like I don’t have the keys to my freedom.” — Tommy Thompson

The Guardian

• “Your honor, I don’t know if we’ve gone over this road before or not, but I don’t know the whereabouts of the gold.” — Tommy Thompson

The Guardian

Tommy Thompson's release marks the end of a complex legal saga involving treasure hunting, investor disputes, and the elusive search for lost gold. While he is now free, the whereabouts of the missing coins remain a mystery, leaving unresolved tensions between Thompson and his investors.

The Guardian