The yacht Harlech, stolen from Opua earlier this month, has been found damaged near Sydney with suspected fraudsters Paul James Bennett and Simone Anne Wright on board.
The $145,000 fibreglassed kauri cutter - owned by Whangarei couple Steve and Carol Holland - was stolen from its mooring at Opua at the start of the month and suspicion almost immediately turned to Bennett and Wright, who had been on the run for some time over allegations of fraud and a sex attack on a teenage girl in Auckland.
Picton businessman Mike Jacomb put up a $50,000 bounty on the pair after he claimed that the pair had fleeced his company of $250,000.
New South Wales Police confirmed they had arrested a Kiwi couple on a boat in Broken Bay, north of Sydney. It's been confirmed they were the fugitives and police said they were arrested on suspicion of stealing a boat.
Mr Holland said today it had been confirmed that the yacht found was Harlech and he was pleased that it had been found. He did not want to comment further until he had spoken to police.
It's understood that the yacht has a damaged forestay.
The stolen yacht was found thanks to followers of the sailing site LiveSailDie.
A statement on the LiveSailDie website said: "Thanks to some quick action from one of our followers and with the help of the yachting network and the sailing community as a whole, LiveSailDie is very pleased to announce the New Zealand sailing vessel "Harlech" has been identified approaching the Australian coast.
Communication from LiveSailDie team member Daz to the Australian and New Zealand authorities overnight has resulted in the vessel being identified, boarded and seized while approaching land."
Mr Jacomb said the last information he had received was that they were in Northland looking for a boat to flee the country. Bennett is said to be a competent sailor, and has an Australian passport.
In a statement today New Zealand Police said they advised by the New South Wales Police that they had located the Harlech in Sydney Harbour.
New Zealand and New South Wales Police investigations are continuing and police said it was too early to comment on whether the pair would be extradited back to New Zealand or what charges, if any, will be laid in Australia.