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Ship Seized With 20 Tons Of Cocaine Has Italian Billionaire Ties

From forbes.com

A ship owned by JP Morgan and operated by Mediterranean Shipping Company was temporarily released on Friday, weeks after it was seized in a drug bust that found 20 tons of cocaine. JP Morgan’s asset management arm, which owns the ship, and MSC together paid $50 million in cash and a surety bond to secure its temporary release. The ship was crossing the Atlantic Ocean on its way to the port of Rotterdam in the Netherlands on Monday afternoon, according to MarineTraffic. While the bust, and eventual release, made international news in large part because of the ties to American financial giant JP Morgan, the operator, ... (full story)

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