Spain proposes to leave $4B treasure on Caribbean seafloor to avoid conflict with Colombia [View all]

[Judi Lynn]

Source: Colombia Reports

Spain proposes to leave $4B treasure on Caribbean seafloor to avoid conflict with Colombia

written by Adriaan Alsema May 10, 2016

In order to avoid conflict with Colombia over who owns the $4 to $7 billion treasure inside the galleon San Jose, Spain proposed Monday to leave the treasure on the Caribbean seafloor where it has been for more than 300 years.

The galleon, sunk by a British war ship in 1708, was found in December off the coast of Cartagena, one of Colombia’s most popular tourist destinations.

However, after finding possibly the biggest treasure in history, three parties laid claim to it: Colombia, Spain and US investors who had financed the search.

In order to avoid an international legal battle between Spain and Colombia, Spanish Justice Minister Rafael Catala told Colombian newspaper El Tiempo the best idea would be to leave the ship and use parts of its treasure for a museum.

Read more: http://colombiareports.com/spain-proposes-leave-4b-treasure-caribbean-seafloor-avoid-conflict-colombia/