Cargo ship owned by JPMorgan Chase seized by U.S. after 20 tons of cocaine found
PHILADELPHIA -- U.S. 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 Wednesday the ship, the MSC Gayane, is part of a transportation strategy fund run for the bank's asset management unit.