Boy, if it is a hoax, they really are trying hard. The news reports say they called an hour before the mayday to tell them that they were in distress and taking on water. Now if a drunk person grabbed the mic and said some stuff, that's really really bad enough. But if they intentionally made multiple calls over at least an hour, that elevates the crime to "hoax in the first degree" which, according to Judge MedSailor carries a much higher penalty!
Either way, I predict nothing good will come of this.