Red Jet 7 will be built at East Cowes, securing 85 jobs there - and will join the fleet next summer.
Rogue Traders Presenter Admits Fraud
BBC Rogue Traders presenter Dan Penteado, who is from Bournemouth, pleaded guilty to council tax and housing benefit fraud to the tune of more than £24,000.
Penteado, 40, who co-hosts the programme with Matt Allwright, admitted eight offences of dishonestly or knowingly claiming the benefits while not declaring he earned thousands from the BBC for the show.
Penteado was warned he could face jail and he was granted bail while a pre-sentence report is prepared.
The case was adjourned until July 17 at Bournemouth Magistrates' Court.
Kerry O'Neill, prosecuting, said the offences went back to 2007 when Penteado filled out his first claim form and failed to declare he had another bank account.
The court heard that Penteado repeated the fraud in subsequent years up to 2011.
In that time he failed to tell Bournemouth Borough Council he had been paid more than £56,000 for his work on Rogue Traders from 2008 to 2011.
''He (Penteado) received £24,077.60 in housing and council tax benefit he was not entitled to,'' Miss O'Neill said.
''He failed to notify the borough council of the money coming in.''
The court heard the council, which brought the prosecution, would be seeking to recover all the cash and Penteado had paid back £210 already.
No mitigation was put put forward by his solicitor, Terrence Scanlan, at the hearing.
The Portuguese-born presenter, who was wearing a white shirt, black tie, black trousers and a black jumper and carrying a black biker jacket, left court without comment.
He started working with Mr Allwright in 2001.
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