Cargo Ship with 20 Tons of Cocaine Owned by JPMorgan Chase

The cargo ship seized by US authorities in Philadelphia last month with 20 tons of cocaine inside was finally seized Wednesday. Turns out the ship is owned by banking giant JPMorgan Chase. 20 tons of cocaine carries a street value of $1.3 billion dollars! While the ship is owned by JPMorgan Chase, the day-to-day operations are ran by the Swiss-based Meditteranean Shipping Company. The ship was flagged as a ship out of Liberia. While the 40,000 pounds of cocaine was removed from the ship, the ship's not getting any use in the foreseeable future. It's going to stay docked in Delaware River for some time in Philly while the investigation continues. Should the ship's owners be held liable for the cocaine if they have never had any control of the ships daily operations?


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