Armed pirate gang storm luxury £20m Mediterranean yacht and rob guests of £100,000

The modern-day pirates pulled alongside the 160ft vessel in a speedboat, then stormed aboard wielding handguns and rifles.

They ordered the captain to empty the boat's safe, then told the nine guests  -  who had paid £130,000 for their one-week charter  -  to hand over their cash and valuables.

Pirates boarded the £20 million Cayman Islands-registered Tiara yacht and robbed nine terrified guests of more than £100,000 cash

Within ten minutes, the gang were back in the speedboat, making their escape. They stole cash, gold watches, jewellery and several artworks, police said.

A spokesman for the French coastguard said that no shots had been fired and no one was hurt in the robbery.

The yacht, called Tiara, was anchored several miles off southern Corsica when the raid happened on Sunday night.

Its captain immediately alerted coastguard officials on the French Mediterranean island, but the criminals have not been found.

Raided: The Tiara moored off of Corsica two days after being stormed by 'pirates'

The yacht was commissioned by Israeli millionaire Jonathan Leitersdorf in 2002, and was recently put up for sale.

The opulent interior has exotic wood panelling, leather upholstery, a helicopter pad  -  and even a fireplace which can be lit on Arctic cruises.

In the past, fashion designer Giorgio Armani, rapper P Diddy and actor Jack Nicholson have all chartered the vessel.

Attacks on luxury yachts are common off the coasts of Africa and in the Far East, but are still a rarity in European waters.

The French coastguard added last night that until this latest attack, there had been no notable piracy attacks on large vessels for several years in the Mediterranean.

The yacht was anchored several miles off southern Corsica in the Mediterranean when the raid happened on Sunday night

The official advice from the Royal Yachting Association on piracy is for passengers and crew not to attempt to fight back if they are confronted by armed raiders, but to hand over all cash and valuables.

However, most yacht captains still keep weapons to hand and many are prepared to defend themselves if boarded.

One captain, who is based in the French Riviera resort of Antibes, said: 'We carry a lot of cash on board boats for emergencies, and passengers who charter yachts are very wealthy people.

'Pirates can often hoover up several hundred thousand pounds' worth of money and goods in just a few minutes.

'But in general they never want to take the boat, because they are too easily traced. Pirates just want easy pickings.'