Posted on Mar 20, 2020
Ship seized in $1.3 billion cocaine bust is owned by JP Morgan Chase
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That's gonna leave a mark...
Ship seized in $1.3 billion cocaine bust is owned by JP Morgan Chase
Posted from cbsnews.comPosted in these groups: 
Crime
Crime
Posted >1 y ago
Responses: 2
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A ship owned by JP Morgan leased to a Switzerland-based shipping company operating under the Liberia flag. Now that's a story.
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LT Brad McInnis
Most ships are like that. They fly a flag of convenience and whatever gets them a cheaper port bill.
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JP Morgan doesn't directly own the ship. Just about every cargo ship is it's own company which is a member of a holding company. If the ship was actually seized by the Gov't, JP Morgan is detached from liability. I suspect the ship was only detained. As of nine minutes ago, 2020-03-21 02:04 UTC, ship is in port Callao, Peru.
Crewmen, except the Master, is hired by third party agencies. MSC or the bank is not liable for their actions. Even if the Master was involved, he acted contrary to company policies which shields the owners.
Crewmen, except the Master, is hired by third party agencies. MSC or the bank is not liable for their actions. Even if the Master was involved, he acted contrary to company policies which shields the owners.
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