FLASH
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Australian police estimate the seized quantity has a street value of A$816 million. Two people have been arrested and face life sentences...
Australian authorities have made the largest cocaine seizure in the country's history after discovering nearly three tonnes of the drug in an underground hideout in Sydney. According to the Australian Federal Police, the haul was discovered on June 19 at a flat in the Londonderry area, west of Sydney. The cocaine was hidden in specially constructed double floors inside three shipping containers, located in an underground space.
Police estimate that the seized amount is worth 816 million Australian dollars, or approximately 500 million euros.
During the operation, authorities arrested two men, aged 21 and 25, who are charged with possession of a commercial quantity of an illegal drug. Under Australian law, they could face life imprisonment.
Investigations indicate that the cocaine arrived in Australia by boat at Midge Point, a sparsely populated area in the state of Queensland. The suspects then transported the cargo by vehicle to Sydney, a distance of about 1,800 kilometers.
According to data from the University of New South Wales, the price of cocaine on the Australian market reaches up to 300 Australian dollars (about 185 euros) per gram.
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