
US Customs seized JPMorgan ship after authorities found 39,525 lbs of cocaine - lettergram
https://markets.businessinsider.com/news/stocks/cocaine-ship-jpmorgan-owns-vessel-seized-by-us-cbp-2019-7-1028340025
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maxehnert
Now how are the bankers supposed to get any work done.

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toomuchtodo
Adderall

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sunstone
If I'm not mistaken a typical container ship can have over 5000 containers
onboard, and in this case several were full of cocaine. That's close to
"needle in a haystack" territory. I have a feeling a lot of containers
manifested as everyday commodities come through carrying narcotics and other
contraband.

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wil421
HBO’s The Wire has a season about shipping containers. The union was in on it
and they would delete containers from the system. It came from a guy called
the Greek but he was from elsewhere. The article is about Philadelphia and a
Mediterranean shipping line. Sounds probable.

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remarkEon
That season (Season 2) gets a lot of flack for being “boring”, but I’m of the
opinion that it really showed well what kind of depths people will go to when
the working class gets hollowed out or feels boxed in. I live near a major
port and the volume of containers that goes through there is mind boggling.
Seems more than plausible that a decent amount of contraband gets through
every day, just by the sheer scale of the operation alone - nevermind a vast
(or even small) conspiracy.

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princeb
> Federal prosecutors in Philadelphia have seized a container ship operated by
> the Mediterranean Shipping Co. and owned by JPMorgan Asset Management.

so it's a fund managed by JPMAM but the assets are actually owned by probably
a bunch of retirees and pensioners.

now those guys are in _deep trouble_.

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coachtrotz
That is a crucial distinction.

Matt Levine wrote about this yesterday -
[https://www.bloomberg.com/opinion/articles/2019-07-10/jpmorg...](https://www.bloomberg.com/opinion/articles/2019-07-10/jpmorgan-
might-lose-a-drug-ship)

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Fjolsvith
I am wondering if you could store 20 tons in one shipping container, or if it
took more than one.

