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

• https://www.zerohedge.com by Tyler Durdan

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." 

The Gayane was raided on June 17 by U.S. Customs and Border Protection agents who found about 20 tons of cocaine with a street value of $1.3 billion stashed in several containers. The ship had sailed from Freeport in the Bahamas and before that it called in Panama and Peru after starting its voyage in Chile. It was due to sail on to Europe after the U.S. stop.

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