Fifth Body Recovered from Yacht in Sicily as 1 Person Remains Missing in Wreck, Sources Say

The discovery comes after news that four bodies had been recovered from the wreckage of the sunken yacht

<p>ALBERTO PIZZOLI/AFP via Getty</p> Rescue boats of the Vigili del Fuoco, the Italian Corps. of Firefighters operate off Porticello near Palermo, on August 21, 2024.

ALBERTO PIZZOLI/AFP via Getty

Rescue boats of the Vigili del Fuoco, the Italian Corps. of Firefighters operate off Porticello near Palermo, on August 21, 2024.

A fifth body has been recovered from the luxury yacht that sank off the coast of Sicily, a source close to the rescue operations confirms to PEOPLE.

The discovery comes shortly after four bodies were recovered earlier on Wednesday, Aug, 21. Sources close to the investigation confirm that all five bodies have been brought back to shore.

Sources also confirm to PEOPLE that there is still one person missing and search efforts are ongoing.

The Bayesian, a 183-foot vessel, sank around 5 a.m. local time on Monday, Aug. 19, after a storm while moored about a half mile from the coast of Porticello, the Italian coast guard said in a statement that was previously obtained by PEOPLE.

The missing have been identified as Mike Lynch, a British tech entrepreneur, and his daughter Hannah, as well as Chairman of Morgan Stanley International Jonathan Bloomer, his wife, Judy, and New York City-based lawyer Christopher Morvillo and his wife, Neda.

<p>ALBERTO PIZZOLI/AFP via Getty</p> Rescuers of the Vigili del Fuoco, the Italian Corps. of Firefighters patrol on a small boat in Porticello near Palermo, on August 21, 2024 two days after the British-flagged luxury yacht Bayesian sank.

ALBERTO PIZZOLI/AFP via Getty

Rescuers of the Vigili del Fuoco, the Italian Corps. of Firefighters patrol on a small boat in Porticello near Palermo, on August 21, 2024 two days after the British-flagged luxury yacht Bayesian sank.

Related: Survivor of Yacht That Sank Off Sicily's Coast Recalls How She Used 'All My Strength' to Save Her 1-Year-Old

At the time the yacht sank there were 22 people on board, including 12 passengers and 10 crew.

In the immediate aftermath, 15 people were rescued, according to the coast guard, while a body was retrieved near the vessel and later identified in news reports as the chef, Ricardo Thomas.

Lynch's wife, Angela Bacares, is another one of the individuals who was rescued, according to a local source.

A source close to the survivors previously told PEOPLE that the passengers were celebrating after Lynch was acquitted in June in a financial fraud trial in the U.S.

“That's why he took his closest friends and colleagues on the trip,” the source said.

<p> Simon Dawson/Bloomberg via Getty; Scott Eells/Bloomberg via Getty; Andy Shaw/Bloomberg via Getty</p>

Simon Dawson/Bloomberg via Getty; Scott Eells/Bloomberg via Getty; Andy Shaw/Bloomberg via Getty

Related: 'We Are in Shock,' Prominent N.Y.C. Attorney's Firm Says After He and His Wife Go Missing in Yacht Sinking

Morvillo had represented Lynch in the fraud case and other firm employees were on the Bayesian as well, a spokesperson for Clifford Chance, his law firm, said in a statement.

Lynch later told Britain’s Sunday Times in a July 27 story that he would’ve died while serving his prison sentence due to his age and lung infection had he been convicted.

“I have various medical things that would have made it difficult to survive,” Lynch, a father of two children — Hannah, 18, and another daughter, 21 — told the paper.

Related: 6 Passengers, Including 2 Americans, Missing After 180-Foot Yacht Sinks amid Storm in Sicily

After reports of the tech entrepreneur’s disappearance, Danny Fortson, who interviewed Lynch for the Sunday Times story, said he was "reeling."

Fortson told PEOPLE that Lynch seemed "incredibly grateful and happy," though the businessman was still "struggling to accept" his new reality.

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“He was just really struggling to grapple with that,” the journalist said. “He was hugely excited and very thankful, but also just this case had been going on, or the allegations had been going on for more than a decade.”

A source close to the investigators dealing with the incident previously told PEOPLE that authorities are focusing on the victims before looking into what happened.

"Obviously the priority is being able to work out what has happened to those that are missing and recover any bodies," the source said. "At the moment, no one has been placed under investigation because until they find the bodies, they cannot evaluate any sort of accusation or charge."

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