Colorful businessman Bond dies at 77

Alan Bond, the high-flying Australian businessman, America's Cup hero and convicted fraudster, died on Friday at age 77 following complications from open heart surgery.

His children John, Craig and Jody announced his death outside the Fiona Stanley Hospital in Perth, where he had been in an induced coma since surgery on Tuesday.

"His body finally gave out after heroic efforts of everyone involved here at the intensive care unit at Fiona Stanley Hospital," their statement said.