US authorities in Philadelphia seized a cargo ship with nearly 20 tons of cocaine on board. The ship, MSC Gayane, is owned by a fund run by JPMorgan Chase.
On June 17th, Customs and Border Protection (CBP) found a massive load of cocaine, reportedly worth around 1.3 billion. CBP seized the cocaine and weeks later, on July 4th, CBP seized the whole cargo ship.
The Baltimore CBP Director of Field Operations, Casey Durst, commented, “The MSC Gayane is the largest vessel seized in U.S. Customs and Border Protection’s 230-year history and follows the record seizure of almost 20-tons of cocaine discovered on the vessel.”
MSC made a statement to their customers that before the ship was seized, the “MSC Gayane was en route to northern Europe.” MSC said in the statement, “You may have seen that MSC’s C-TPAT certification was temporarily suspended following the incident. We are actively seeking to assure the authorities that our certification can be reinstated as soon as possible.”
C-TPAT is the Customs-Trade Partnership Against Terrorism, a supply chain security program run by CBP. C-TPAT is a certificate that provides perks such as quicker processing and looser oversight and examinations by Customs.