PHILADELPHIA (CNN/WDTN) – A cargo ship owned by J.P. Morgan Chase allegedly had 20 tons, or 40,000 pounds, of cocaine on board, according to authorities in Philadelphia.
The banking giants don’t have operational control of the M.S.C. Gayane which is run by Swiss-based Mediterranean Shipping Company.
Law enforcement agents boarded the ship in June and discovered the cocaine, which at that amount is worth close to $1.3 billion.
The bank has yet to comment.