The body was found near Dover. The death is being treated as non-suspicious.
Detectives had previously said they were considering the possibility that Mr Levesconte jumped off the ferry after it left Portsmouth.
He had booked a return ticket to St Malo on December 9 and had boarded the ferry. But detectives said he did not get off in St Malo.
Following the theft, 60 families were left facing a bleak Christmas but saw the festive season saved after people donated money to replace the stolen funds.
It took just four days to replace the missing £29,000 thanks to one anonymous donation of £10,000 and hundreds of smaller contributions from as far afield as South Africa, Saudi Arabia, Australia and the United States.