Three New South Wales men have been arrested and charged over an alleged 500kg cocaine import into Queensland.
Australian Federal Police (AFP) announced the arrests today after the men were taken into custody on Sunday.
Police released video of the men being arrested at a regional boat ramp. They had allegedly just collected the drug haul with a boat from a large cargo vessel out at sea.
The footage shows a number of cars descending on the scene before officers spring out and into action.
"A Morisset Park man, 66, a Charlestown man, 45, and a Lake Macquarie man, 27, faced Gladstone Magistrates Court yesterday and were remanded in custody," an AFP spokesperson said.
"The AFP... arrested the men when they returned to shore in an 8.2m fishing boat at the Boyne Island boat ramp, about 24km south of Gladstone," the spokesperson continued.
"The AFP searched the vessel and allegedly found 15 black and yellow waterproof bags that each contained about 32 blocks of a powdered substance. Each block weighed about 1kg.
"The substance returned a presumptive positive result for cocaine."
More forensic tests are underway to confirm the find and its purity.
"The AFP executed search warrants at a motel in Tannum Sands and the residential premises of the men in Newcastle and the Central Coast of NSW," police said.
"On Monday a further search warrant was executed on a vessel anchored in the Port of Gladstone. Investigations are ongoing."
The three men each face a maximum penalty of life imprisonment.
AFP Commander John Tanti estimated the drugs had a street value of more than NZ$175 million.
He said the cocaine could've been sold in more than two million individual street deals.
"Investigations into the origin of the drugs remain ongoing, and we will work with our international and domestic law enforcement partners to identify the criminal syndicates and anyone else involved in facilitating this alleged attempted drug import."
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