JP Morgan bank’s $1 billion cocaine smuggling

This 10 July 2019 video from the USA says about itself:

A cargo ship owned by JPMorgan Asset Management has been seized by officials during an investigation into $1 billion worth of cocaine discovered on the vessel. Veuer’s Justin Kircher has more.

From Forbes magazine in the USA:

July 11, 2019, 08:44pm

U.S. Authorities Seize 20 Tons Of Cocaine From Ship Owned By JP Morgan

By Rachel Sandler

In one of the largest drug busts in U.S. history, federal authorities in Philadelphia seized nearly 20 tons of cocaine—worth about $1 billion— last month from a ship owned by JP Morgan‘s asset management arm.

  • 19.76 tons of cocaine (that’s an estimated street value of $1.3 billion, according to Business Insider) were seized from the ship when it arrived at Packer Marine Terminal in Philadelphia on June 17.
  • The ship, named MSC Gayane, is operated by Switzerland-based Mediterranean Shipping Company, but it was financed by a transportation strategy fund run by JP Morgan‘s asset management arm. The ship is leased out to MSC.
  • Six crew members aboard MSC Gayane have been arrested and charged with knowingly and intentionally conspiring to possess more than five kilograms of cocaine, the Justice Department said in a statement.
  • The ship was flying under the flag of Liberia, a country in West Africa, according to online vessel tracking website MarineTraffic.

JP Morgan declined to comment. …

Very probably, JP Morgan fat cat Tony Blair also did not comment.

From Richard Nixon to Donald Trump, United States administrations wage a bloody ‘war on drugs’. A war often against poor peasants, homeless hippies, African Americans. But: a war against JP Morgan or other big banks, like HSBC? No sir. They are ‘too big to jail‘.

Though maybe a few ordinary seamen of this cocaine ship will be used as scapegoats. But no bankster fat cats.

This isn’t the first time MSC has experienced problems with drug trafficking aboard its ships. Earlier this year, authorities in Philadelphia found 13 large black duffel bags with a combined 450 bricks of cocaine being shipped in one of MSC’s shipping containers.

4 thoughts on “JP Morgan bank’s $1 billion cocaine smuggling

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