Feds Seize JP Morgan’s ‘Asset Management’ Ship With Over $1 Billion of Cocaine on it

(TMU) A container ship owned by JP Morgan has been seized by U.S. Customs and Border Protection (CBP) in Philadelphia weeks after authorities discovered over $1 billion dollars worth of cocaine on the vessel.

On July 4, CBP executed a warrant and seized the MSC Gayane—which is the world’s second-largest container ship. The seagoing vessel is owned by JP Morgan Asset Management and operated by Switzerland-based Mediterranean Shipping Company, according to the Wall Street Journal.

“The MSC Gayane is the largest vessel seized in U.S. Customs and Border Protection’s 230-year history and follows the record seizure of almost 20-tons of cocaine discovered on the vessel,” said Casey Durst, CBP’s Director of Field Operations in Baltimore.

Eight crew members have been arrested, according to Homeland Security, and multiple others have been charged. Charges included conspiracy to possess cocaine. The investigation is still ongoing.

Ironically, JP Morgan boss Jamie Dimon once blasted Bitcoin as being fraudulent, claiming it is only useful “if you were a drug dealer [or] a murderer.”

By S.M. Gibson | Creative Commons | TheMindUnleashed.com