U.S. Customs Seize Ship Owned by JP Morgan After $1B in Drugs Were Found

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    Weeks after a shipping container was found to have been carrying $1 billion worth of drugs at the Philadelphia seaport, prosecutors have seized the ship after learning that the Mediterranean Shipping Co. operated vessel was owned by JP Morgan Asset Management. According to Homeland Security, at least half a dozen crew members have been taken into custody.

    US Attorney William McSwain said, “A seizure of a vessel this massive is complicated and unprecedented — but it is appropriate because the circumstances here are also unprecedented,” adding, “We found nearly 20 tons of cocaine hidden on this ship.”

    JP Morgan declined to comment on the revelation as did the Mediterranean Shipping Co.

    Source: markets.businessinsider.com

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