| 18.07,09. 07:02 PM |
Police smash Sydney cocaine ring
July 18, 2009 - 12:27PM
Police say they have smashed a Sydney cocaine ring.
Federal officers seized five kilograms of cocaine and made three arrests during raids at business premises in Camperdown and Five Dock, in Sydney's inner west, on Friday morning.
Police say a 40-year-old man from Fairfield and a 40-year-old man from Greenacre were about to buy the drugs using $340,000.
Both were arrested during raids by Australian Federal Police (AFP) agents at the Camperdown property and will face drugs and money laundering charges at Parramatta Local Court today.
A 43-year-old man from Haberfield was arrested at the property in Five Dock and will face drug trafficking charges at the same court.
In total, five warrants were executed at premises in Sydney in connection with the investigation on Friday.
"If sold on the streets, it is estimated that five kilograms of cocaine would be worth more than $1 million," an AFP statement said.