JPMorgan Owned Ship Involved in Cocaine Bust Seized

Federal prosecutors in Philadelphia have seized a container ship operated by the Mediterranean Shipping Co., involved in 20-ton Philly port cocaine bust from firm with history of hidden drug hauls, reports Markets Insider.

What happened?

On June 18, CBP agents found 39,525 pounds of cocaine stashed in several containers on the MSC Gayane at the Philadelphia seaport. The street value of the drugs was estimated at about $1.3 billion, making it the largest cocaine seizure by the agency. 

In a rare...

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