Police make cocaine seizures worth about $360 M

Police have seized cocaine at two New South Wales locations as part of a major investigation into a smuggling ring based out of Chile. On Christmas night, police raided a ship at Sydney Fish Market and brought in about 500kg of cocaine estimated to be worth $162 million. A further 600kg of cocaine destined for Australia, estimated to be worth about $197 million, was seized in Tahiti. The estimated total street value of the haul is about $360 million, according to police.