I guess I don't understand the benefit of carrying that much cash for travelling money. I realize there isn't a bank on every corner in Central America, but surely you can gain access to accounts from a bank account, credit card, etc. Then again, if this guy is a multimillionaire, then this is probably the equivalent of me keeping $100 in my sock for emergencies.

Perhaps I am cynical, but it seems to me that the main benefit of carrying that kind of cash on a boat is so you have enough "hand butter" to grease palms and make business transactions go faster. Either way it doesn't inspire confidence when you don't declare having such a large amount of money on your person. On the other hand, what caused the authorities to board the boat in the first place?