News courtesy of the Indiana University regarding the discovery of the wreckage of the Quedagh Merchant possibly Captain Kidds vessel.  Resting in less than 10 feet of Caribbean seawater, the wreckage of Quedagh Merchant, the ship abandoned by the scandalous 17th century pirate Captain William Kidd as he raced to New York in an ill-fated attempt to clear his name, has escaped discovery -- until now.

An underwater archaeology team from Indiana University announced today (Dec. 13) the discovery of the remnants. IU marine protection authority Charles Beeker said his team has been licensed to study the wreckage and to convert the site into an underwater preserve, where it will be accessible to the public.

Beeker, director of Academic Diving and Underwater Science Programs in IU Bloomington's School of Health, Physical Education and Recreation, said it is remarkable that the wreck has remained undiscovered all these years given its location, just 70 feet off the coast of Catalina Island in the Dominican Republic, and because it has been sought actively by treasure hunters.

"I've been on literally thousands of shipwrecks in my career," Beeker said. "This is one of the first sites I've been on where I haven't seen any looting. We've got a shipwreck in crystal clear, pristine water that's amazingly untouched. We want to keep it that way, so we made the announcement now to ensure the site's protection from looters."

The find is valuable because of the potential to reveal important information about piracy in the Caribbean and about the legendary Capt. Kidd, said John Foster, California's state underwater archaeologist, who is participating in the research.

IU anthropology doctoral student Fritz Hanselmann documents one of the "great guns" as described by Captain Kidd

"I look forward to a meticulous study of the ship, its age, its armament, its construction, its use, its contents and the reconstructed wrecking process that resulted in the site we see today," Foster said. "Because there is extensive, written documentation, this is an opportunity we rarely have to test historic information against the archaeological record."

Historians differ on whether Kidd was actually a pirate or a privateer -- someone who captured pirates. After his conviction of piracy and murder charges in a sensational London trial, he was left to hang over the River Thames for two years. 

Click here to see video of the dive team examing their discoveries. Dive Video

William "Captain" Kidd (c. 1645 – May 23, 1701) is remembered for his trial and execution for piracy after returning from a voyage to the Indian Ocean. Some modern historians deem his piratical reputation unjust, as there is evidence that Kidd acted only as a privateer. His fame springs largely from the sensational circumstances of his questioning before the English Parliament and ensuing trial. His actual depredations on the high seas, whether piratical or not, were both less destructive and less lucrative than those of many other contemporary pirates and privateers.Captain Kidd.  .