The 50m vessel Lau Trader (formerly the Townsend Cromwell) is scheduled to depart "to sea" at 10am tomorrow.
The 46-year-old boat, seized from Swann under the Proceeds of Crime Act, is understood to be destined for Fiji's Lau group of islands.
The Crown Law Office was unable to say to whom the vessel had been sold.
Swann's lawyer at sentencing, John Haig QC, said the vessell was valued at about $800,000, although Swann had estimated as much as $4 million was spent on the refurbishment.
However, the Otago Daily Times has learned from other sources the vessel's value is seriously affected by it not being surveyed for commercial use, and its value for scrap would be about $50,000.
Swann was jailed in March for nine years and six months for defrauding the Otago District Health Board of $16.9 million.
