PHILADELPHIA (KETK) – Authorities in Philadelphia have determined that a ship that was seized last month with $1.3 billion worth of cocaine belongs to JP Morgan Chase.
The banking company does not have operational control of the MSC Gayane, which is run by the Swiss-based Mediterranean shipping company.
Law enforcement agents boarded the ship in June and discovered more than 40,000 pounds of cocaine. It was the largest drug bust in the history of Customs and Border Patrol.
The bank has yet to comment