Colombian govt keeping Seattle group from sunken treasures

Colombian govt keeping Seattle group from sunken treasures »Play Video
SEATTLE -- The story of the San Jose is one of intrigue, greed and double crossing.

The vessel sank in the Caribbean Sea in 1708, weighted down with gold and other treasure.

A Seattle-based group of treasure hunters have laid claim to the booty, but the group can't dive for it. The reason: a sordid tale.

"Corkscrew and side-winding and backstabbing, yeah, I would say probably a little of all of those," said Jack Harbeston.

Harbeston manages a group of investors and treasure hunters called Sea Search Armada. The group recently filed a $17 billion lawsuit over the rights to the San Jose.

The group was to explore the Caribbean Sea as part of a deal with the Colombian government to find, recover and split the ship's treasure 50/50. A film documenting their exploration made decades ago captured what appears to be the ship's hull 900 feet below in murky water.

But the group hasn't been able to dive for the actual treasure. Colombia's president has overturned the original deal, saying instead of an even split, his country would keep a whopping 95 percent of the riches.

Even the Colombian Supreme Court sided with the Americans, but the government threatened military force if the treasure hunters showed up again.

Sea Search Armada's fight is now in the courts.

"If they want that ship so bad that they're willing to intercept us with military force, let 'em have the ship. I have no yearning to see the inside of a Colombian prison," said Harbeston.

The two sides have been wrangling over the issue for 30 years. No one expects Colombia to cut a $17 billion dollar check.

And there's no way to recover what Harbeston really wants.

"I want my life back. Let's settle this thing. I can think of better things, a lot better things to do with my life," Harbeston said. "And that, to me, is the supreme sacrifice that I've made. That is, to me, a lot more important than the money I've put into it."

Harbeston is after a settlement for the investors who he says have put upwards of $11 million into the search and fight over dreams of much bigger fortune.