The bodies of Lynch and four others were recovered by rescue crews. One woman remains missing.
The Bayesian, a 56-metre British-flagged yacht, went down in a storm early on Monday as it was moored about a kilometre offshore.
Civil protection officials said they believe the ship was struck by a tornado over the water, known as a waterspout, and sank quickly.
Fifteen of the 22 people aboard survived, including a mother who reported holding her one-year-old baby over the waves to save her.
Lynch had been celebrating his recent acquittal on fraud charges with his family and the people who had defended him at trial in the United States.
Divers have struggled to find the bodies.
“We would need a crystal ball to know when we’ll be able to find the next body,” said Luca Cari, spokesperson for the fire rescue service.
“It’s very difficult to move inside the wreckage. Moving just one metre can take up to 24 hours.”