Ship Seized In Record $1.3 Billion Cocaine Bust Belongs To JPMorgan

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A few weeks ago we reported that around $1 billion worth of cocaine (15,500 kilos) was seized from a container ship at a Philadelphia port after having stopped in Colombia, Chile, Peru, Panama and the Bahamas (subsequently it turned out that it was a record $1.3 billion, or 18,000 kilos worth). 

Today we learn that the vessel, the MSC Gayane, is owned by JP Morgan, and has been seized by US authorities according to the Wall Street Journal.  The Gayane is the world’s second-largest container ship – operated by Switzerland-based Mediterranean Shipping Co, MSC. 

“A seizure of a vessel this massive is complicated and unprecedented—but it is appropriate because the circumstances here are also unprecedented,” said US Attorney William McSwain in a statement. “When a vessel brings such an outrageous amount of deadly drugs into Philadelphia waters, my office will pursue the most severe consequences possible against all involved parties in order to protect our district—and our country.”  – READ MORE

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