AFP raids seize luxury yacht, Cartier and Rolex jewellery, cash and cocaine in organised crime bust

More than fifty people have been arrested and almost $50million worth of assets has been seized after police busted one of Victoria’s largest crime syndicates. 

The Australian Federal Police (AFP) and Victoria Police executed more than 60 warrants across Melbourne and regional Victoria during the years-long investigation.

Specialist officers seized more than $47million worth of assets including 60 properties, multiple luxury cars and a yacht worth nearly $800,000.

Also seized in the raids was $2.2million in cash, a Rolex, a Cartier bracelet, five paintings by notable Australian artists and more than 107kg of methylamphetamine, heroin, cocaine and firearms including a speargun and knuckle dusters. 

Victoria Police and the AFP has cracked down on a massive organised crime syndicate, executing more than 60 warrants (pictured: a luxury yacht seized by police)

Also seized in the raids was $2.2million in cash, a Rolex, a Cartier bracelet, five paintings by notable Australian artists and more than 107kg of methylamphetamine, heroin, cocaine and firearms including a speargun and knuckle dusters

A total of 52 people were arrested and charged with a range of offences, including firearms possession and dealing with the proceeds of crime and trafficking large quantities of illegal drugs. 

Nine people have been convicted and remain before the courts.

Read Related Also: Parkland Deputy Would Have Seen Bodies If He Opened Door, Officer Testifies

Police have also stopped the group from receiving an income through tenants currently living in a series of rental properties across Victoria. 

Assistant Commissioner Bob Hill, Victoria Police Crime Command said police were working to remove ‘every shred of benefit they have derived from their offending’.

The bust comes just days after six men were charged after six tonnes of meth hidden in canola oil bottles bound for Melbourne were seized by police. 

Police estimate about $1.7billion worth of methamphetamine was stopped from hitting the streets as a result of the major bust. 

Police made 52 arrests and seized almost $50million worth of assets, including artwork, (pictured) jewellery, 60 properties and designer jewellery

The drugs had been hidden in shipments from Canada, with the majority of units seized before they were dispatched to Australia.

The AFP said its joint operation with Canadian authorities and other agencies resulted in six tonnes of liquid and crystal meth being confiscated.

That is the equivalent of 19million hits of the highly addictive drug.

The busts are just the latest in a series of major drug seizures in the last year. 

Recent key busts included approximately $1.6billion of drugs discovered in Sydney hidden in marble stone and $1billion of cocaine bound for the WA coast.