JP Morgan Owned Boat Caught Hauling 40,000 Pounds Cocaine In Largest Ever Customs Bust

PHILADELPHIA, PA. (THECOUNT) — US Customs and Border Protection found more than $1 billion worth of cocaine in a container ship in Philadelphia, charge Federal prosecutors.

The vessel, “MSC GAYANE,” is owned by JPMorgan Asset Management and operated by Switzerland-based “MSC” Mediterranean Shipping Co. It was seized on July 4, in one of the largest drug busts in American history.

On June 18, CBP agents discovered 39,525 pounds of cocaine, nearly 20 tons, stashed in several containers onboard the vessel which was docked 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. Charges included conspiracy to possess cocaine aboard a ship, reports BusinessInsider.

The investigation is ongoing.

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.

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Geo quick facts: Philadelphia, Pennsylvania’s largest city, is notable for its rich history, on display at the Liberty Bell, Independence Hall (where the Declaration of Independence and Constitution were signed) and other American Revolutionary sites. Also iconic are the steps of the Philadelphia Museum of Art, immortalized by Sylvester Stallone’s triumphant run in the film “Rocky.”