Attorney's Office for the Eastern District of Pennsylvania announced on Monday that it had issued a warrant on July 4 that allowed the CBP to take custody of the ship itself as well. A Holland man has been sentenced to more than a decade in federal prison for his role in a Lakeshore drug conspiracy that unraveled last summer with the seizure of 42 pounds of cocaine. Law enforcement agents boarded the MSC Gayane on June 17 and found the cocaine, which is said to have a street value of about $1.3 billion.Īt the time, just the drugs were seized by the United States Customs and Border Protection (CBP) agency. That means JPMorgan Chase does not have any operational control of the vessel, a Liberian-flagged ship that is run by the Swiss-based Mediterranean Shipping Company. (credit: CBS3)Ī source close to the situation said on Wednesday that the MSC Gayane is part of a transportation strategy fund run for the bank's asset management unit. Footage captured by the Mexican Navy shows two operations taking place off the Pacific coast of Mexico near Oaxaca, chasing down the boats at rapid speed. More than 20 tons of cocaine was seized on the MSC Gayane at a Philadelphia port last month. More than 9700 pounds of cocaine were seized by the Mexican Navy after a high-speed chase across the Pacific Ocean resulted in a huge drug bust. PHILADELPHIA (CNN/CBS) - The cargo ship involved in a massive drug bust where federal authorities seized over $1 billion of cocaine is owned by a fund run by JPMorgan Chase.
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