A BRITISH man has been shot dead after two armed men boarded his sailboat near Stuart Cove's diving centre in western New Providence on Friday night and demanded cash.

Police report that the man, believed to be an employee at the diving centre, has been resident in the Bahamas for a number of years and lived aboard his boat. Around 10pm two men armed with handguns accosted him and demanded cash. The men fired two shots at the victim before fleeing on foot. He was pronounced dead at the scene. Police have launched an island-wide manhunt for four men in connection with the incident.

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