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US Customs just seized a ship owned by JPMorgan after authorities found $1 billion worth of drugs on it

Goldhedge

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#1
US Customs just seized a ship owned by JPMorgan after authorities found $1 billion worth of drugs on it


GINA HEEB
Jul 9th 2019 4:04PM

  • Federal prosecutors in Philadelphia have seized a container ship operated by the Mediterranean Shipping Co. and owned by JPMorgan Asset Management.
  • That came weeks after authorities found more than $1 billion worth of cocaine on the vessel in what was one of the largest drug busts in American history.
  • At least a half a dozen crew members have been arrested, according to Homeland Security Investigations, and the investigation is ongoing.
  • Visit Markets Insider for more stories.
Federal prosecutors in Philadelphia have seized a container ship operated by the Mediterranean Shipping Co., weeks after authorities found more than $1 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.

On June 18, CBP agents found 39,525 pounds of cocaine stashed in several containers on the MSC Gayane at the Philadelphia seaport. The street value of the drugs was estimated at about $1.3 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 nearly 20 tons of 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.
 

michael59

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#2
The street value of the drugs was estimated at about $1.3 billion
so? what is the pharmaceutical cost? ever-one knows that, that crap can be bartered down. BUTT Plz freaks everyone knows a donkey has to get sent so the rest can get through. And, this shit is tied to a bank; a bank no less?
Way to piss up a rope freaks.
 

Silver

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#3
20 tons of coke and they arrest half a dozen crew members - like they can finance a drug deal like that. And JPM knows nothing about it :)

Remember when the head of the NY Stock exchange paid a visit to the FARC commander in Columbia to remind him where the money channels had to flow?

farc.png
 
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TAEZZAR

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#7
any one here think the CIA would let their shit get taken? nawwww...f'n fr..spooks tell the dweebs what is for capture.
YUP, the CIA is the biggest drug cartel in the world !
 

Zed

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#8
Oh FUCK! How the hell is my trading desk going to operate!!!!! <---- said someone who can't be named who works for a bank that can't be named!
 

Strawboss

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#9
I am shocked....SHOCKED...that there are drugs on this ship...

(think Casablanca)....
 

gnome

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#10
"Is that a lot?" ~ MarketNuetral
 

Zed

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D-FENZ

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#13
here I was just posing that question, what if they confiscated the ship just as they would the rest of us,

and they did,

now that took balls, whoever is behind it
Just ask and you shall receive.

Got anything else you want?
 

the_shootist

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#15
so? what is the pharmaceutical cost? ever-one knows that, that crap can be bartered down. BUTT Plz freaks everyone knows a donkey has to get sent so the rest can get through. And, this shit is tied to a bank; a bank no less?
Way to piss up a rope freaks.
That's what I was thinking (I think) That coke was intended to be processed into pharmaceutical drugs which would net a lot more than $1.3B. These aren't street dealers, these are the big boys

Coke=opioid=raw material
Make into Oxycodone=opioid big buck$$$
 
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Cigarlover

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#16
Thats the US street value. In Columbia or Peru the value is much less. US is 100 a gram, other countries is 5 bucks. Thats also retail so wholesale is probably a buck a gram. So its really 17 million wholesale.. If you buy it at the source anyway. Just a WAG on my part though.. 1 .3 billion sounds a lot better in the headlines though.
 

michael59

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#19
That's what I was thinking (I think) That coke was intended to be processed into pharmaceutical drugs which would net a lot more than $1.3B. These aren't street dealers, these are the big boys

Coke=opioid=raw material
Make into Oxycodone=opioid big buck$$$
Yeah bud …. the thingy of it is "Who is paying the shipping/freight cost?" Oh yeah I am sure the crew is transporting their own poop. NO; the captain might but the crew?

These fuck sticks JESUS'ed this shipment so the others could get through.
 

Goldhedge

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#20

Goldhedge

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#22

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#24
Thats the US street value. In Columbia or Peru the value is much less. US is 100 a gram, other countries is 5 bucks. Thats also retail so wholesale is probably a buck a gram. So its really 17 million wholesale.. If you buy it at the source anyway. Just a WAG on my part though.. 1 .3 billion sounds a lot better in the headlines though.
So snow is still $100 a gram, eh? That's a humor. Was $100/gm in the 70's as well, imagine that. Well inflation doesn't happen in coca-cola land evidently.

The thing you missed, CL is that gram you buy on the street is 30% coke if you get a good dealer, less if it's dealer to dealer to dealer to you. So street price and value of 20 tons of cola an be a pretty hazy guestamate.

BF
 

michael59

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#25
So snow is still $100 a gram, eh? That's a humor. Was $100/gm in the 70's as well, imagine that. Well inflation doesn't happen in coca-cola land evidently.

The thing you missed, CL is that gram you buy on the street is 30% coke if you get a good dealer, less if it's dealer to dealer to dealer to you. So street price and value of 20 tons of cola an be a pretty hazy guestamate.

BF
two bad I have only one like to give u on that post!
 

engineear

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#26
Who's ship? Not my ship...is it your ship?..no...i don't know...thought this was a Cardinal Cruise line...nope, not mine...i was eating this yeast raised doughnut with sugar, I turn around and a guys pointing an Uzi at me, says he's an inspector from Arkansas? "Surely you jest" I said..."I never joke", he says "and my names not Shirley".
 

Goldhedge

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#27
K, you need to x-splain that one.
It clearly says

I, DONALD J. TRUMP, President of the United States of America, find that the prevalence and severity of human rights abuse and corruption that have their source, in whole or in substantial part, outside the United States, such as those committed or directed by persons listed in the Annex to this order, have reached such scope and gravity that they threaten the stability of international political and economic systems.​
Human rights abuse and corruption undermine the values that form an essential foundation of stable, secure, and functioning societies; have devastating impacts on individuals; weaken democratic institutions; degrade the rule of law; perpetuate violent conflicts; facilitate the activities of dangerous persons; and undermine economic markets. The United States seeks to impose tangible and significant consequences on those who commit serious human rights abuse or engage in corruption, as well as to protect the financial system of the United States from abuse by these same persons.​
I therefore determine that serious human rights abuse and corruption around the world constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States, and I hereby declare a national emergency to deal with that threat.​
I hereby determine and order:​
Section 1. (a) All property and interests in property that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person of the following persons are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in:​
 

Cigarlover

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#28
So snow is still $100 a gram, eh? That's a humor. Was $100/gm in the 70's as well, imagine that. Well inflation doesn't happen in coca-cola land evidently.

The thing you missed, CL is that gram you buy on the street is 30% coke if you get a good dealer, less if it's dealer to dealer to dealer to you. So street price and value of 20 tons of cola an be a pretty hazy guestamate.

BF
Last time I bought or did any was 20 + years ago. Got it right off a banana boat in Ct. Mafia connection. 100% pure. Best I ever had and last time I ever did any.
 

michael59

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#29
It clearly says

I, DONALD J. TRUMP, President of the United States of America, find that the prevalence and severity of human rights abuse and corruption that have their source, in whole or in substantial part, outside the United States, such as those committed or directed by persons listed in the Annex to this order, have reached such scope and gravity that they threaten the stability of international political and economic systems.​
So? The I ran contrary drug thing with ollie north had nothing to due with inside these bounds? bueeeshit!
 

Silver

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#32
Just ask and you shall receive.

Got anything else you want?
Epstein's 21,000 sq ft townhome on 5th Avenue:

"Epstein has lived at least part time in the seven-story Beaux-Arts home since 1996, when the building was owned by Epstein’s benefactor Leslie Wexner, the founder and CEO of L Brands, which includes Victoria’s Secret and Bath & Body Works. But there were no property records regarding a transfer between the two until 2011, when Epstein signed a document for both parties handing over the 21,000-square-foot home for $0. "
 

EO 11110

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#34
looking at the vessel's last 30 days -- it was docked at freeport, bahamas on 6-14. from there it ran up the east coast to philly. currently not at any dock, it's at anchor in delaware bay. it made multiple trips from that anchorage spot to the philly dock over the last week

backing up another 15 days puts it on a dock in chile, then peru. it went through the panama canal to the bahamas

backing up some more, found it at cali, colombia on may 20th

before hitting those south america ports it was in the netherlands, then paris, france. it sailed from paris to the south american ports. it left paris may 2nd
 
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D-FENZ

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#35
...before hitting those south america ports it was in the netherlands, then paris, france. it sailed from paris to the south american ports. it left paris may 2nd
Paris, France? Paris is hours from the ocean/channel- by car. The largest river in the Paris area is the Seine and it's barely big enough to accommodate 2 passing, 300 passenger tour boats let alone a monster cargo ship. Are you sure about that?
 

EO 11110

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#36
Paris, France? Paris is hours from the ocean/channel- by car. The largest river in the Paris area is the Seine and it's barely big enough to accommodate 2 passing, 300 passenger tour boats let alone a monster cargo ship. Are you sure about that?
the port to the immediate east of paris . i was speaking in generalities
 
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Joe King

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#37
the port to the immediate east of paris (hours by car? that's nothing for global shipping biz).
The port East of Paris? Oh, you mean Luxemburg? Lol
 

chrisflhtc

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#38
That's what I was thinking (I think) That coke was intended to be processed into pharmaceutical drugs which would net a lot more than $1.3B. These aren't street dealers, these are the big boys

Coke=opioid=raw material
Make into Oxycodone=opioid big buck$$$
Sorry you couldn't be more wrong Coke is not= to Heroin. One is down the other is up. They do use coke in some delicate facial surgeries because there are not many side effects.
 

EO 11110

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#39
i should have typed WEST of paris...lol

saint malo, antifer, caen, more.....not sure which one the cocaine ship was at, wasn't zoomed in that tight