JPMorgan Chase cargo ship seized by United States with 20 tons of cocaine

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A source close to the situation said Wednesday that the ship, the MSC Gayane, was part of a transportation strategy fund managed by the bank's asset management unit.

That means JPMorgan Chase (JPM) has no operational control over the vessel, a Liberian flagged vessel that is operated by the Swiss-based Mediterranean shipping company. The bank had no comment.
At the time, only drugs had been seized by the US Customs and Border Protection Agency (CBP). But the US prosecutor's office for the Eastern District of Pennsylvania announced Monday that it issued a warrant on July 4 that allowed the CBP to take custody of the ship itself.

"The seizure of a ship of this size is complex and unprecedented, but it is appropriate because the circumstances here are unprecedented," said US Attorney William McSwain in a statement Monday.

"When a ship carries such a staggering amount of lethal drugs into Philadelphia waters, my office and our agency partners will pursue the most serious consequences possible against all concerned parties in order to protect our district – and our country, "McSwain added.

MSC Gayane was seized by the US Customs and Border Protection Agency after the discovery of 20 tons of cocaine.
The Mediterranean Shipping Company (MSC) said in a statement issued on 18 June: "Unfortunately, transport and logistics companies are occasionally affected by traffic problems, and MSC has a long history of cooperation with the transport and logistics forces. US federal orders to help stop illegal drug trafficking. "
MSC added Tuesday in an update that he cooperates with the forces of order and is not a target of the US government investigation.
Drug smuggling in Newark Harbor seizes one and a half tons of cocaine valued at $ 77 million

"The seizure of a vessel of this size is an unusual performance measure for CBP, but it does indicate the serious consequences associated with an alleged plot by crew members and crew members." other people who are trying to smuggle a record amount of dangerous drugs into the United States, "said Casey Durst, CBP's Field Operations Director in Baltimore.

MSC stated that the ship was en route to northern Europe at the time of its seizure and that, apart from the containers held by the US authorities, all other shipments were routed to their destination by D & # 39; 39, other MSC vessels.

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