You don't know very much if you don't know the Chao family history. Her uncle owns a freight ship called the 'Ping May'. In August 2014, the rusty cargo vessel Ping May, was set to disembark from the port of Santa Marta, Colombia en route to the Netherlands. Colombian inspectors boarded the boat and made a discovery. Hidden in the ship’s chain locker, amidst its load of coal bound for Europe, were approximately 40 kilograms, or about ninety pounds, of cocaine. The drug bust went unnoticed in Kentucky, where every bit of McConnell-related news had generated fodder for his campaign trail re-election in that year. That’s because, like many international shipping companies, Chao’s firm is shrouded from public view, concealing its identity and limiting its legal liability through an array of tax shelters and foreign registrations. Registered through a limited liability company in the Marshall Islands, the Ping May flies the Liberian flag.
One day ago....
A $59 Million Will Sheds Light On Shipping Fortune Connected To Elaine Chao And Mitch McConnell
[snip]In 1964 James Chao (Elaine's father) founded a shipping company called Foremost Maritime Group. Fifty-five years later it is an international giant worth hundreds of millions of dollars. Part of that fortune could theoretically be passed to Chao in the coming years.