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. Last Updated: 07/27/2016

Spanish Corvette Seizes Treasure Ship

GIBRALTAR -- A Spanish warship seized a U.S. treasure-hunting vessel at gunpoint Tuesday, believing it had taken gold and silver worth millions of dollars from a sunken Spanish galleon, the U.S. crew said.

The Spanish corvette blocked the path of the Odyssey Explorer after it left Gibraltar and threatened to fire when the captain refused to let police board.

The warship then escorted the boat, which belongs to U.S. company Odyssey Marine Exploration, to the Spanish port Algeciras so police could search it.

Madrid suspects the U.S. company has recovered treasure from Spanish waters or from a Spanish galleon in international waters, either of which would give Spain a claim to the booty, the government says.

Odyssey Marine Exploration has said it has legally discovered gold and silver coins worth an estimated $500 million while working on a wreck code-named Black Swan at a secret location in the Atlantic Ocean.