Neither JP Morgan Chase nor MSC are targets of the criminal investigation. Cargo ship involved in 1.3B cocaine bust in Philly owned by JPMorgan Chase. said in a statement, "Unfortunately, shipping and logistics companies are from time to time affected by trafficking problems." The shipping company said it is cooperating with U.S. JP Morgan Chase declined to comment on the record. A cargo ship that was seized last month with nearly 20 tons of cocaine on board with an estimated street value of 1. JP Morgan leased the ship to Mediterranean Shipping Co., a Switzerland-based shipping company, which is solely responsible for the vessel's crews and operations. Chase Bank officials contacted retired Indiana postal worker Robert Wolfe. The ship, the MSC Gayane, is owned by JP Morgan Asset Management clients through a transportation fund managed by the bank, a source said. Your Florida Daily: Undercover drug operation seizes 10 kilos of fentanyl, dog. Customs and Border Protection said this was the largest vessel ever seized in the agency's 230-year history. Ship carrying $1 billion of cocaine could have another 30 tons on board 00:33Ī cargo ship that was seized last month with nearly 20 tons of cocaine on board - with an estimated street value of $1.3 billion - belongs to JP Morgan Chase, a source familiar with the situation confirmed to CBS News.
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