Industry News

Ferretti Group Florida investigation: what it means for owners, Allied Marine and the Fort Lauderdale property

YachtWay Editorial Team

Nov 6, 2026 — 6 min read

Ferretti Group showroom, Fort Lauderdale. Photo: Ferretti Group

Florida Attorney General James Uthmeier has opened an investigation into the Ferretti Group property at 1445 SE 16th Street in Fort Lauderdale. Allied Marine, Ferretti Group's US dealer, lists the address as its Fort Lauderdale office. Ferretti Group of America lists it as its regional office. Uthmeier announced the investigation on X on October 28, 2026: "Our office is launching an investigation. Unacceptable to have a CCP-controlled corporation operating in Florida!"

The review asks whether the site complies with Florida's 2023 law on real estate owned by foreign principals from countries of concern, which include China. Ferretti Group's largest shareholder is Weichai, a Chinese state group with a 39.5 percent stake. Opening a review does not by itself mean a violation took place.

What it means for owners

Nothing has changed for owners so far. Neither Ferretti Group nor the Attorney General's office has announced any change to sales, service, parts or warranty.

For US owners, Allied Marine is the group's dealer. It is the exclusive US dealer for Pershing, Itama and Ferretti Yachts and the Central and East Coast dealer for Riva. Allied Marine says its "warranty coordinators work directly with the factories to expedite claims and minimize downtime."

The investigation names one property. Allied Marine's service yard is at a different address, 2005 SW 20th Street, and Ferretti Group Parts is listed at Lauderdale Marine Center. Neither site has been named in the investigation.

If you own	What we know today
A boat under warranty	No change announced. Claims run through Allied Marine and the factories in Italy
A boat in service	The Fort Lauderdale service yard is not at the investigated address
A boat on order	No change announced to deliveries
A boat listed with Allied Marine	Allied Marine has brokers in Fort Lauderdale, Palm Beach, Stuart, Naples and the Hamptons

Is this the end of Allied Marine?

No, not on what is known today. Allied Marine was founded in 1945 and has been wholly owned by Ferretti Group since 2008. The Florida law governs who may own land. It does not stop a company from selling, brokering or servicing boats.

Will Allied Marine have to move out?

Only a court could force that. Under the statute, property owned before July 1, 2023 may be kept if it was registered with the Florida Department of Commerce by December 31, 2023. Late registration costs $1,000 for each day late. Forfeiture to the state requires a circuit court action. No court filing has been reported.

The open questions decide the outcome:

Question	Why it matters
Does Ferretti Group count as a foreign principal?	If not, the law does not apply. Weichai holds 39.5 percent, not a majority
Was the property registered by December 31, 2023?	If yes, Ferretti Group may keep it under the statute
If not registered, what does the state seek?	Daily fines and a lien are possible. Forfeiture needs a court

Neither Ferretti Group nor the Attorney General's office has said whether the property was registered.

What it means for Ferretti Group's future in Florida

If Ferretti Group is a foreign principal under the law, it may keep property it owned before July 1, 2023, but it may not buy more Florida real estate within 10 miles of a military installation or critical infrastructure facility, and the China rule bars any new purchase.

Control of the group is also still in court in Italy. The Bologna court rejected KKCG's urgent request on October 12, 2026, but the merits case is open. The board led by Weichai stays in office until that case is decided.

YachtWay asked the Attorney General's office on November 2 for a statement, the legal basis for the investigation and the next steps. The office did not respond by the 5pm ET November 5 deadline. The X post is the only statement the office has made so far.

YachtWay asked Ferretti Group for comment on November 2. Ferretti Group did not respond by the 5pm ET November 5 deadline.

Timeline

Date	Event
2012	Weichai takes control of Ferretti Group
July 1, 2023	Florida's foreign land law (chapter 2023-33) takes effect
May 14, 2026	Weichai's slate wins the Ferretti Group board vote; Stassi Anastassov becomes CEO, Tan Ning chairman
June 10, 2026	KKCG asks the Bologna court to suspend the May vote
October 12, 2026	Bologna judge Roberta Dioguardi rejects KKCG's urgent request
October 27, 2026	Sen. Rick Scott and Rep. Randy Fine raise concerns about Ferretti Group on X during the Fort Lauderdale International Boat Show
October 28, 2026	Rep. David Borrero holds a press conference outside the property; the Attorney General announces the investigation hours later
November 2026	Merits case in Bologna continues

How the investigation started

State Representative David Borrero held a press conference outside Ferretti Group's US headquarters on October 28. "As Americans, we want to live free from influence from the Chinese Communist Party," he said. "We need to make sure that our laws are not just a piece of paper, but that they're properly being abided by."

"Certainly the law is strong enough," Borrero said. "I think that there is enough to create a reasonable suspicion for the AG or the proper state authorities to investigate."

The day before, during the Fort Lauderdale International Boat Show, Senator Rick Scott wrote on X: "The Florida boat show is a great event and critical for our tourism and economy, but I am deeply concerned about this." Representative Randy Fine wrote: "We need answers and must get their influence out of Florida ASAP."

Florida's Voice reported that it asked Ferretti Group for comment and no response was immediately available. Ferretti Group has not said whether the Attorney General's office has contacted it.

The property

Address	1445 SE 16th Street, Fort Lauderdale
Owner	Ferretti Group of America
Distance	Less than a mile from Port Everglades and Fort Lauderdale-Hollywood International Airport
Nearby	US Coast Guard facilities

Location details from Florida's Voice and Press Mare.

What the Florida law says

The law is in chapter 692 of the Florida Statutes. These are the parts that apply here.

Rule	What the statute says
Countries of concern	China, Russia, Iran, North Korea, Cuba, the Maduro regime in Venezuela and Syria (692.201)
Foreign principal	Includes a company organized in, or with its principal place of business in, a country of concern, and its subsidiaries (692.201)
China rule	Listed Chinese persons and entities may not own or acquire Florida real property, except a de minimis indirect interest (692.204)
Near ports, airports, bases	Foreign principals may not own property within 10 miles of a military installation or critical infrastructure facility. Seaports and airports count when fenced or guarded (692.201, 692.203)
Owned before July 1, 2023	May be kept, but no more property may be added (692.203, 692.204)
Registration	Pre-2023 holdings had to be registered with the Florida Department of Commerce by December 31, 2023
Late registration	$1,000 for each day late, with a lien possible
Forfeiture	Property may be forfeited to the state through a circuit court action
Criminal	Violating the China rule is a third-degree felony. Violating the 10-mile rule is a second-degree misdemeanor

If the property was owned before July 1, 2023, the law lets the owner keep it. The questions are whether Ferretti Group counts as a foreign principal, and whether the property was registered.

Neither Ferretti Group nor the Attorney General's office has said whether the property was registered.

Who controls Ferretti Group

Weichai holds about 39.5 percent of Ferretti Group through Ferretti International Holding. Weichai is part of Shandong Heavy Industry Group.

At the May 14, 2026 shareholder meeting, the Weichai slate won 49.74 percent of the share capital. The slate from KKCG, the Czech group of Karel Komárek, won 45.11 percent. KKCG holds 23.23 percent. The Weichai slate took eight of the nine board seats, Florida's Voice reported. Tan Ning became chairman and Stassi Anastassov became CEO, ending Alberto Galassi's 12 years as CEO.

The KKCG lawsuit in Bologna

KKCG went to the Bologna court in June 2026 and asked for urgent measures.

What KKCG asked for	Grounds
Suspend the May 14 resolutions, including the board and statutory auditors	Weichai's voting rights should have been suspended under Italy's Golden Power rules, because the required national security notifications were not made
A new count of the contested votes	15 shareholders closely linked to each other backed the Weichai slate, and KKCG alleged undisclosed agreements or action in concert
Seat the KKCG slate	An undisclosed shareholder agreement between Ferretti International Holding and Adtech Advanced Technologies AG

KKCG said the action was "necessary to protect Ferretti's governance, the company itself, its shareholders and stakeholders."

What the court decided

Judge Roberta Dioguardi of the Bologna court's business division signed the order on October 12, 2026, after a hearing on July 23. The court record names the applicant as Azúr A.S., a company linked to KKCG. She rejected every ground.

Claim	Court finding
Golden Power	Weichai took control in 2012, four years before Ferretti set up its security division in 2016. The notification duty is tied to buying a stake, and no transaction had triggered it
Hidden agreements	Timing of share purchases and aligned voting were not enough to prove a legally relevant agreement
Consob checks	Ferretti International Holding denied any agreements in replies to Consob on March 1, March 26 and April 7, 2026. The court said this is not a final finding that no coordination existed
Adtech agreement	The clauses stopped applying after the June 2023 listing on Euronext Milan, and the agreement expired in September 2024
Abuse of voting rights	Fell away with the Golden Power claim

The court did not rule that Ferretti Group falls outside Golden Power. The merits case stays open and will examine the same claims in full. The board elected in May stays in office until then.