The stash was discovered as part of an investigation into an alleged plot to sail cocaine into Australia before using smaller boats to bring the drugs to shore.
A NSW man has been charged over an alleged drug importation plot after 200 kilograms of cocaine was unearthed aboard a catamaran sailing near the Queensland-NSW border.
The catamaran had sailed from the Tweed River on April 14, travelling north before turning its transponder off, police said.
Police will allege the vessel picked up the drugs at sea before sailing back towards the coast and turning its transponder back on as it returned to the Tweed River.
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It was intercepted by NSWPF Marine Area Command operatives on April 16 as it sailed into the Tweed River, just south of the Queensland border.
The catamaran was towed to a secure location, where it was searched and examined by specialist forensic officers.
Police will allege about 200kg of cocaine was hidden inside black duffel bags on board the catamaran along with $100,000 in cash.
Police discovered the stash as part of an investigation into an alleged international plot by a bikie syndicate to sail cocaine into Australian waters before using smaller vessels to bring the drugs to shore.
Australian Border Force Superintendent Jim Ley warned would-be criminals that border and law enforcement agencies were working together to protect the community.
"This amount of cocaine would have meant more addiction, more crime, and more violence in our communities.," Ley said.
"Our message to organised crime is clear: we are watching, we are working together, and we will stop anyone who tries to bring illicit drugs into Australia."
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The discovery triggered investigators to execute multiple search warrants across southeast Queensland and northern NSW.
Police are not ruling out further arrests as they work to determine who else was involved in importing the drugs.
A Tweed Heads man, 41, was charged with one count of importing a commercial quantity of a border-controlled drug.
He was faced the NSW Bail Division Court on April 17, where he was formally refused bail and remanded to appear before the same court on June 12.
If found guilty, the man could face a maximum penalty of life imprisonment.
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