The body of Ilford-born tech tycoon Mike Lynch has been identified by the Italian coastguard. 

Mr Lynch is one of five bodies reported to have been identified in the latest update on the superyacht tragedy, according to Sky News. 

The businessman was reported missing from luxury yacht the Bayesian, after it was hit by a fierce storm in Palermo, Sicily at around 4.30am on August 19.

Mr Lynch grew up near Chelmsford and was a student at Bancroft's School in Woodford Green after receiving a scholarship. 

My Lynch's daughter has yet to be foundMike Lynch was born in Ilford and went to Bancroft's School (Image: Yui Mok/PA Wire) He went to Christ's College Cambridge and its alumni website says he was awarded an OBE in 2006.

Among the companies founded by Mr Lynch were those specialising in products for the music recording industry and computer-based fingerprint recognition, it added.

A total of 22 people were onboard when the yacht sank, including the vessel's chef believed to be Recaldo Thomas, the BBC reports. 

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The chef's body was the first to be discovered by fire and rescue services close to the sunken wreck, at a depth of 50 metres (164 feet). 

The death toll has now risen to six.

Another 15 passengers managed to escape the wreckage. 

Mr Lynch's 18-year-old daughter Hannah Lynch remains unaccounted for.