World: US Customs just seized a ship owned by JPMorgan after authorities found $1 billion worth of drugs on it - PressFrom - Australia
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WorldUS Customs just seized a ship owned by JPMorgan after authorities found $1 billion worth of drugs on it

00:19  10 july  2019
00:19  10 july  2019 Source:   msn.com

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PHILADELPHIA (AP) — U . S . Customs authorities have seized a cargo ship where agents discovered nearly 40 The cocaine was said to have a street value of over 1 billion dollars. U . S . Attorney William McSwain says Customs The cargo ship is owned by Swiss firm MSC Mediterranean Shipping Co.

(Reuters) - Federal authorities seized 16.5 tons of cocaine worth more than $ 1 billion from a ship in Philadelphia in one of the largest drug seizures in U . S . history, the U . S . Justice Department said on Tuesday. Federal, state and local law enforcement agents on Monday boarded the MSC Gayane

US Customs just seized a ship owned by JPMorgan after authorities found $1 billion worth of drugs on it© AP Photo/Matt Rourke

Federal prosecutors in Philadelphia have seized a container ship operated by the Mediterranean Shipping Co, weeks after authorities found more than $US1 billion ($AU1.4 billion) worth of cocaine on the vessel in what was one of the largest drug busts in American history.

US Customs and Border Protection seized the ship on July 4, a statement out Monday said. The ship is owned by client assets in a maritime strategy offered by JPMorgan Asset Management, according to a person familiar with the matter. It is operated by the Switzerland-based MSC.

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Federal authorities seized an estimated $ 1 billion worth of cocaine at the Port of Philadelphia on The seizure of more than 16 tons of cocaine from a ship docked at the Packer Marine Terminal was The ship is owned by the Swiss firm MSC Mediterranean Shipping Co. The MSC Gayane sails

Federal prosecutors in Philadelphia have seized a large container ship from a global shipping company weeks after authorities raided its cargo and found more than 35,000 pounds of cocaine, or about $ 1 billion worth of the drugs . Officials described the June bust at the Port of Philadelphia as

On June 18, CBP agents found 39,525 pounds (18 tonnes) of cocaine stashed in several containers on the MSC Gayane at the Philadelphia seaport. The street value of the drugs was estimated at about $US1.3 billion ($AU1.8 billion), making it the largest cocaine seizure by the agency.

"A seizure of a vessel this massive is complicated and unprecedented - but it is appropriate because the circumstances here are also unprecedented," said US Attorney William McSwain. "We found cocaine hidden on this ship."

At least a half a dozen crew members have been arrested, according to Homeland Security Investigations, and the investigation is ongoing. Charges included conspiracy to possess cocaine aboard a ship.

The Gayane sailed under the flag of Liberia and had previously traveled through the Bahamas and several South American countries, according to an online ship tracker.

JPMorgan declined to comment. Mediterranean Shipping Co. did not immediately respond to an email inquiry.

Bomb squad removing ‘military item’ found in container.
Defence force officers have been called into a Sydney shipping company after the object was located by Customs authorities. Federal bomb squad officers are working to remove a suspected military item found in a container in Sydney’s western suburbs. Police were first called to the building of a global shipping company on Goulburn Street in Kings Park about 11am following reports of a military ordinance found inside a container. Federal customs officers located the item after it was realised it had not been declared before entering the country.

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