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STORY: One man died and six people were missing on Monday (August 19) after a luxury yacht sank off the Sicilian capital Palermo.

:: Baia Santa Nicolicchia/Fabio La Bianca

That’s according to a statement from the Italian coast guard which said the 184-foot sailboat, identified as the British-registered Bayesian, had been struck by an unexpectedly violent storm and sank with 22 people on board.

It added that the missing people were of British, American and Canadian nationality.

:: File

A person familiar with rescue operations said Mike Lynch, one of Britain's best-known tech entrepreneurs, is among the missing.

Divers and helicopters have been searching the Palermo waters for these missing passengers.

Local media reported that eight of the 15 people rescued, including a one-year-old child, were transferred to local hospitals - and that all were in a stable condition.

Karsten Borner is the captain of the ship which rescued survivors aboard the sinking yacht.

"This morning we got this strong hurricane gust and we had to start the engine to keep the ship in an angled position…and after the storm was over, we noticed that the ship behind us was gone."

"And then we saw a red flare so my first mate and I went to the position, and we found this life raft drifting. // Fifteen people inside. Four people were injured, three heavily injured and we brought them to our ship. Then we communicated with the Coast Guard and after some time, the Coast Guard came and later picked up injured people."

The coast guard said the boat had been found at a depth of around 160 feet and that divers were inspecting the wreck.

Prosecutors in the nearby town of Termini Imerese have opened an investigation to look into what went wrong.

:: Baia Santa Nicolicchia

Bad weather has swept down Italy in recent days and this CCTV footage from Palermo shows the violent storm believed to be the cause of the yacht sinking.

Floods and landslides caused major damage in the north of the country - after weeks of scorching heat.

A U.K. foreign ministry spokesperson said British officials were in contact with local authorities over the incident and were ready to provide consular support for Britons who were affected.