Ship Seized In Record $1.3 Billion Cocaine Bust
Belongs To JPMorgan
Wed, 07/10/2019 - 07:21
A few weeks ago we reported that
around $1 billion worth of cocaine (15,500 kilos) was seized from a
container ship at a Philadelphia port after having stopped in Colombia,
Chile, Peru, Panama and the Bahamas (subsequently it turned out that it
was a record $1.3 billion, or 18,000 kilos worth).
Today we learn that the
vessel, the MSC Gayane, is owned by JP Morgan, and
has been seized by US authorities according to the Wall Street Journal. The
Gayane is the world's second-largest container ship -
operated by Switzerland-based Mediterranean Shipping Co, MSC.
$91 million: The amount
of cocaine that was supposed to be on that boat in fictional movie “The Usual
Suspects.”
$1.3 billion: The amount of cocaine in this boat. https://twitter.com/WSJ/status/1148634199076810758 …
$1.3 billion: The amount of cocaine in this boat. https://twitter.com/WSJ/status/1148634199076810758 …
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"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 in a statement. "When a vessel brings such an outrageous
amount of deadly drugs into Philadelphia waters, my office will pursue the most
severe consequences possible against all involved parties in order to protect
our district—and our country."
The Gayane was raided on June 17 by U.S. Customs and Border
Protection agents who found about 20 tons of cocaine with a street value of
$1.3 billion stashed in several containers. The ship had sailed
from Freeport in the Bahamas and before that it called in Panama and Peru after
starting its voyage in Chile. It was due to sail on to Europe after the U.S.
stop.
“MSC remains grateful to the government officials in the U.S.
for their proactive work and has offered its continued support, building on a
longstanding track record of good cooperation with the authorities,” an MSC
spokesman said in a statement. “MSC is assisting and cooperating with the
authorities as required and the company is not the target of any
investigation.” -Wall Street Journal
The $90 million ship that
can carry around 10,000 containers remains anchored at the Delaware River near
the Philadelphia port, and will stay there for quite some time according to
the Journal.
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Eight crew members from
Samoa and Serbia were arrested, while many others have been charged in the
scheme according to those interviewed. The ship's second officer and
another crew member were also charged, and have been accused of
helping to bring the contraband aboard.
In
February, Customs agents also seized 1.6 tons of cocaine on another MSC vessel,
the Carlotta, upon entry into the Port of Newark, NJ.
As a
result of the two busts, MSC's Customs-Trade Partnership certification has been
temporarily suspended, meaning that the company's cargo will be subject to
enhanced scrutiny and can no longer be classified as "low risk." MSC
says it expects minimal disruption from the suspension.
"Historically,
ships involved in criminal activity are older and beaten up,"
said Basil Karatzas, CEO of New-York-based Karatzas Marine Advisors &
Co. "It is strange that such a modern and expensive vessel is involved in
such a blatantly criminal case, like moving 20 tons of cocaine."
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