A superyacht built by Palmer Johnson in Sturgeon Bay was seized in Italy last week by Italian authorities.  With countries around the world taking actions to sanction Russian oligarchs, the “Lady M” yacht owned by Alexey Mordasov was being held in Imperia, Italy.  Mordasov is reportedly Russia’s richest man and has a net worth of nearly $30 billion, according to CNBC.  He was recently sanctioned by the European Union.

The 213-foot “Lady M” yacht was built in 2013 for $27 million and is valued at over $55 million.  It was the largest vessel ever built by Palmer Johnson and was the largest aluminum yacht ever built in the U.S., according to moranyachts.com.  

(2013 photo of Lady M courtesy of Yachtharbor.com)