City Hedge Fund Millionaire To Fund Final Search For MH370

Photo by Zennie Abraham/ Flickr

Anthony Clake, a City millionaire, is set to help fund the last-ditch attempts to solve the mystery of what has happened to MH370, the missing Flight.

Sky News reported that the executive of Marshall Wace is one of the investors who are behind an exploration company called the Ocean Infinity which has secured a contract to look for the Malaysian Airlines aircraft.

He is said to have been impressed by the advanced technology of the said operation. It is now set to perform a sub-sea search for clues as to what has really happened to the aircraft, and it will only be paid if it succeeds in locating the wreckage.

The company could be paid as much as $70m if it meets that target within 90 days.

Earlier this month, the chief executive of Ocean Infinity, Oliver Plunkett, stated: “Whilst there can be no guarantee of locating the aircraft, we believe our system of multiple autonomous vehicles working simultaneously is well-suited to the task at hand.”

Early last year, the said hunt was called off for MH370 nearly three years after it originally vanished in March 2014. The search had reportedly cost around $150m.

A total of 239 people were on board the plane when it disappeared. The unexplained event has provoked countless theories regarding what has really happened, with idea ranging from a hijacking attempt to a cabin fire to an attack by North Korea.

Jn 2015, debris that were found on Réunion Island was confirmed to be from the MH37. However, the rest of the aircraft has never been located.