Author Topic: JP Morgan Funded Cargo Ship Seized With $1.2-Billion Worth of Cocaine  (Read 710 times)

Offline Shiranu

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As outlined in a CNN report filed Wednesday, U.S. authorities in Philadelphia seized a cargo vessel last month that was carrying nearly 20 tons of coke with a projected value of around $1.3 billion. The twist of it all, per the report, is that the ship in question is owned by a fund operated by JPMorgan Chase.

Specifically, the MSC Gayane ship is among those used as part of the bank's transportation strategy fund, utilized for asset management. JPMorgan Chase, however, doesn't have any "operational control" of the ship, which authorities further described as being run by the Swiss-based Mediterranean Shipping Company.

During the initial seizure June 17, the coke in question was taken by the United States Customs and Border Protection (CBP) agency. Earlier this month, however, it was announced that a warrant had been issued allowing the ship itself to be taken by authorities. It will now be under such custody until determined otherwise by a court, per a Department of Justice press release from earlier this week.


According to CBP's Baltimore Director of Field Operations Casey Durst, the MSC Gayane currently stands as "the largest vessel seized" in the CBP's 230-year history. "This action [of seizing the ship] serves as a reminder for all shipping lines and vessel masters of their responsibilities under U.S. and international law to implement and enforce stringent security measures to prevent smuggling attempts such as this," Durst said.


Gotta love the defense of "no operational control"... we weren't doing anything wrong, we were just paying the people who were.


Fuck the rich.
Quod est inferius, est sicut quod est superius.
Et quod est superius, est sicut quod est inferius.

I wonder how many low level people will be used as scapegoats to keep the rich ones out of jail?
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Offline Cavebear

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Gotta love the defense of "no operational control"... we weren't doing anything wrong, we were just paying the people who were.


Fuck the rich.

I'm trying to picture that as ballast.  Don't get me wrong, I never tried anything stronger than a white cross speed (which mostly just made me talk a lot). 

But 20 tons of cocaine?  That must have been the world's most interesting shipping container dust for the crew... 

I'm wondering...  What would 20 tons of cocaine ever BE like?  A shipping container of sugar?  How could anyone even gather that much?  Seriously, that would be like the GDP of a major country.  And what did they do with it, dump it into the ocean?  No wonder dolphins follow ships...
Atheist born, atheist bred.  And when I die, atheist dead!

Offline Shiranu

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I'm trying to picture that as ballast.  Don't get me wrong, I never tried anything stronger than a white cross speed (which mostly just made me talk a lot). 

But 20 tons of cocaine?  That must have been the world's most interesting shipping container dust for the crew... 

I'm wondering...  What would 20 tons of cocaine ever BE like?  A shipping container of sugar?  How could anyone even gather that much?  Seriously, that would be like the GDP of a major country.  And what did they do with it, dump it into the ocean?  No wonder dolphins follow ships...

Depending on what Department ends up with custody of it, probably sell it in low-income neighbourhoods.

Quod est inferius, est sicut quod est superius.
Et quod est superius, est sicut quod est inferius.

Offline Baruch

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Depending on what Department ends up with custody of it, probably sell it in low-income neighbourhoods.

Correct.  CIA is behind the illegal drug business.
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luu shalmaata luu balt’aata
May you be well, may you be healthy

What are Chase being charged with?
We 'new atheists' have a reputation for being militant, but make no mistake  we didn't start this war. If you want to place blame put it on the the religious zealots who have been poisoning the minds of the  young for a long long time."
PZ Myers

Offline Shiranu

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What are Chase being charged with?

Nothing, as far as I know. Funding criminals isn't a crime, if you are wealthy enough... or piss off enough people to get a slap on the wrist.

Wasn't JPMorgan one involved with money laundering for Colombian drug lords and got a slight fine for it? I know one of the big banks were. Would be... very coincidental... that a bank who moves money for Colombian cartels would just so happen to also be involved with cocaine smuggling...
Quod est inferius, est sicut quod est superius.
Et quod est superius, est sicut quod est inferius.

Offline Baruch

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Nothing, as far as I know. Funding criminals isn't a crime, if you are wealthy enough... or piss off enough people to get a slap on the wrist.

Wasn't JPMorgan one involved with money laundering for Colombian drug lords and got a slight fine for it? I know one of the big banks were. Would be... very coincidental... that a bank who moves money for Colombian cartels would just so happen to also be involved with cocaine smuggling...

It was Cartel money that saved the world during the 2008 crisis, because banks never launder money for the crime lords.
πŽπŽœπŽœπŽŸπŽŒπŽ€πŽπŽŽπŽ€πŽ€πŽšπŽ€πŽŸπŽπŽœπŽœπŽŸπŽπŽ€πŽπŽ‰πŽ€πŽ€πŽšπŽ€
luu shalmaata luu balt’aata
May you be well, may you be healthy

Offline Baruch

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What are Chase being charged with?

Sgt Schultz was in charge ... "I saw nothing ..."
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luu shalmaata luu balt’aata
May you be well, may you be healthy

Offline Draconic Aiur

Because free market

Offline Baruch

Re: JP Morgan Funded Cargo Ship Seized With $1.2-Billion Worth of Cocaine
« Reply #10 on: July 14, 2019, 11:14:25 PM »
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Because free market

Yes.  We could save a lot of taxes, if we legalized everything, not just open borders.  The AOC would have to find a real bartending job (she is still cute enough).  I think a lot of regular posters here, are partial anarchists.  Like the Founding Fathers.  But that is the problem with partisan anarchism.  I want my lawlessness, not your lawlessness.
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luu shalmaata luu balt’aata
May you be well, may you be healthy

Re: JP Morgan Funded Cargo Ship Seized With $1.2-Billion Worth of Cocaine
« Reply #11 on: July 15, 2019, 12:39:55 PM »
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Nothing, as far as I know. Funding criminals isn't a crime, if you are wealthy enough... or piss off enough people to get a slap on the wrist.

Wasn't JPMorgan one involved with money laundering for Colombian drug lords and got a slight fine for it? I know one of the big banks were. Would be... very coincidental... that a bank who moves money for Colombian cartels would just so happen to also be involved with cocaine smuggling...
Nothing new. Most of the slavers the USN and RN captured trying to get slaves into the US antebellum were financed by Northern interests.
We 'new atheists' have a reputation for being militant, but make no mistake  we didn't start this war. If you want to place blame put it on the the religious zealots who have been poisoning the minds of the  young for a long long time."
PZ Myers

Offline Baruch

Re: JP Morgan Funded Cargo Ship Seized With $1.2-Billion Worth of Cocaine
« Reply #12 on: July 15, 2019, 01:10:25 PM »
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Nothing new. Most of the slavers the USN and RN captured trying to get slaves into the US antebellum were financed by Northern interests.

Actually by the vast Jewish conspiracy ... just asks Hamas!  Yes, the North were hypocrites.  Nothing new there.  For 5000 years, slavery was legal.  Not that I care for it myself.  Jews are traditionally against slavery, for some strange reason.
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luu shalmaata luu balt’aata
May you be well, may you be healthy

Online PopeyesPappy

Re: JP Morgan Funded Cargo Ship Seized With $1.2-Billion Worth of Cocaine
« Reply #13 on: July 16, 2019, 07:13:46 AM »
While JP Morgan Chase is undoubtedly one of the big, bad, evil banks, fraud, money laundering that sort of thing, I seriously doubt they've gone into the drug smuggling business. They bought a ship and leased it to a shipping company. They probably had an agreement in place to lease the ship to MSC before they bought it. Technically they don't even own the ship. A fund they manage does. The investors in the actually own the ship.

The bank does not make decisions on where the ship goes or what it carries. MSC does all that.
Save a life. Adopt a Greyhound.


Offline Baruch

Re: JP Morgan Funded Cargo Ship Seized With $1.2-Billion Worth of Cocaine
« Reply #14 on: July 16, 2019, 12:17:38 PM »
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While JP Morgan Chase is undoubtedly one of the big, bad, evil banks, fraud, money laundering that sort of thing, I seriously doubt they've gone into the drug smuggling business. They bought a ship and leased it to a shipping company. They probably had an agreement in place to lease the ship to MSC before they bought it. Technically they don't even own the ship. A fund they manage does. The investors in the actually own the ship.

The bank does not make decisions on where the ship goes or what it carries. MSC does all that.

Plausible deniability.  Building 7.
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luu shalmaata luu balt’aata
May you be well, may you be healthy

 

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