Ex-Yacht Dealer Arrested in Alleged Theft of $2 Million

A former Newport Beach luxury yacht dealer who allegedly stole more than $2 million from his clients and then wrote them cheerful letters and Christmas cards as he traveled the world on their money has been arrested in Florida.

Toni Bell, 51, who allegedly left the United States with more than $2 million that his customers had deposited for custom yachts he promised to build, was arrested at a recreation vehicle dealership in Winter Park, Fla., on Wednesday.

Bell left Spindrift Yachts in November, 1987, after telling his top executives he did not plan “to be 50 and broke,” according to Ft. Lauderdale Police Detective Kevin Allen. Warrants for his arrest were issued shortly after.

Thursday, some of the alleged victims said it was their turn to celebrate.

“We opened a bottle of champagne this morning,” said Richard Donner, director and producer of the movies “Lethal Weapon” and “Lethal Weapon II.” Donner said he lost about $30,000 that he had given Bell as a deposit on a 58-foot yacht.

Authorities said Bell victimized 25 clients, including several from Southern California, whose losses ranged from $5,000 to $650,000 apiece. Bell was being held in Ft. Lauderdale on $955,000 bail.