The boat sank at dawn off the coast of Porticello near Palermo on Monday.
Lynch’s daughter Hannah, 18, remains the only missing passenger.
The four bodies recovered on Wednesday were identified as Jonathan Bloomer, president of Morgan Stanley International, his wife Anne Elizabeth, Lynch’s lawyer Chris Morvillo and his wife Nada.
In an interview published on Thursday by Milan daily Corriere della Sera, Giovanni Costantino said the boat was safe.
Costantino is the founder and CEO of the Italian Sea Group, the listed company which owns the assets of Viareggio-based Perini Navi, the company that built the now sunken yacht.
He claims several mistakes were made on board prior to the accident, a video of which shows the boat sinking in around 60 seconds.
“Everything that was done reveals a very long sum of errors,” he told the newspaper.
“People should not have been in their cabins, the boat should not have been anchored,” he continued, also noting that all the doors and hatches should have been closed.
Costantino added that camera footage of the ship from shore showed lights on its mast went out, indicating a short circuit caused by the ship taking in a lot of water.
“And, also, why did crew members not know about the incoming bad weather?” he queried.
“Passengers reported an absurd thing - that the storm arrived unexpectedly, suddenly.
“It’s not true,” noted Costantino, adding bad weather had been forecast.
“It is good practice when the ship is at anchor to have a guard on the bridge, and if there had been one, he couldn’t have missed the arrival of the storm,” he added.
“Instead, it took on water with the guests still in the cabin.
“They were trapped, those poor people ended up like mice,” he concluded.
ANSA