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  • "King of Cocaine" Pablo Escobar reportedly raked in US$30 billion during the early 1990s: the equivalent of about $56 billion today. | Photo: Wikimedia commons

Published 24 January 2018

Hopes are now pinned on the possibility that the "King of Cocaine" – the seventh-richest man in the world in 1989 – may have kept his vast stash of US$50bn cash on board.

Former CIA agents Doug Laux and Ben Smith claim to have found a sunken submarine once belonging to infamous Colombian drug kingpin Pablo Escobar, which could contain his rumored US$50 billion fortune. 

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Escobar, head of the Medellin cartel, used submarines to ship cocaine undetected from the Colombian coast towards the United States. 

Laux and Smith say cartel members would pilot the cargo to Puerto Rico, where it would be transferred to speedboats and shipped to the port at Miami, Florida.

The former CIA members released a documentary, "Diving For The Wreck Of Escobar's Submarine," in December in which their attempts to locate the wreckage and riches turned out to be fruitless.  

However, a recent storm in the deep waters of the Atlantic Ocean finally uncovered the wreckage, which divers were then able to locate.

Hopes are now pinned on the possibility that Escobar – the seventh-richest man in the world back in 1989 – may have kept his vast stash of cash on board.

During 1980s, Escobar's Medellin cartel was singlehandedly responsible for more than 80 percent of the cocaine being smuggled into the United States.

In his heyday as the "The King of Cocaine," Escobar reportedly raked in US$30 billion during the early 1990s: the equivalent of about $56 billion today.

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