Owner was on yacht when it capsized off NY; 3 dead

OYSTER BAY, N.Y. (AP) - July 5, 2012 (WPVI) -- The owner of a yacht that capsized with 27 friends and family members aboard for an Independence Day fireworks outing was on it when it tipped over off New York's Long Island.

Three children died when they became trapped underwater Wednesday night.

Attorney James Mercante says owner Kevin Treanor was on the 34-foot Candi 1 when it capsized but wasn't the operator. The lawyer says an insurance company hired him to represent Treanor.

Telephone calls to Treanor's home and work telephones have gone unanswered.

Authorities say the cause of the accident is under investigation. Safety experts say the yacht was overcrowded.

Officials hope to raise the yacht from 60 feet of water on Friday.

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