Sign up for our newsletter

Below is a report that DML News gives a 4 OUT OF 4 STARS trustworthiness rating. We base this rating on the following criteria:

  • Provides named sources
  • Reported by more than one notable outlet
  • Does not insert opinion or leading words
  • Includes supporting video, direct statements, or photos

Click here to read more about our rating system.

As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by CNN.com:

New York (CNN Business) — US authorities in Philadelphia seized a cargo vessel in June with nearly 20 tons of cocaine on board. The ship, as it turns out, is owned by a fund run by banking giant JPMorgan Chase.

A source close to the situation said on Wednesday that the ship, the MSC Gayane, is part of a transportation strategy fund run for the bank’s asset management unit.

The article goes on to state the following:

That means JPMorgan Chase (JPM) does not have any operational control of the vessel, a Liberian-flagged ship that is run by the Swiss-based Mediterranean Shipping Company. The bank had no comment.

SF Gate reports:

“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. “We found nearly 20 tons of cocaine hidden on this ship.”

At least a half a dozen crew members have been arrested, according to Homeland Security Investigations, and the investigation is ongoing. Charges included conspiracy to possess cocaine aboard a ship.

Show your support for President Trump!

To get more information about this article, please visit CNN.com. To weigh in, leave a comment below.

Sign up for our newsletter

Click here to join the comments

Previous articleREPORT: Biden’s Lead in Dem Poll Narrows
Next articleToday: Make a difference