$700k luxury cars and $1.6m cash seized in raids
MORE than $700,000 in luxury cars has been seized during a police raid on a Gold Coast property.
The Gold Coast Major and Organised Crime Squad searched a home an address at Bundall on Thursday morning where they uncovered three luxury vehicles, including a 2020 RS6 valued at $260,000 and a 2019 BMW X7 valued at $160,000.
At a separate business at Burleigh Heads, police also located and seized a 2020 Audi RSQ8 valued at $290,000.
Police will allege the three vehicles are proceeds of crime.
Officers subsequently arrested and charged a 33-year-old Bundall man with money laundering, unlawful possession of firearms, possess dangerous drugs and contravene order for access information.
Gold Coast detectives have been investigating since a search warrant was executed at Bundall on September 30 last year.
It will be alleged the man was intercepted and located with $290,000 which led officers to conduct further searches.
It will further be alleged $1.6 million in cash and two firearms were located in a parked vehicle on the street outside his address.
South East Region MOCS Detective Inspector Craig McGrath said police took a tough stance on this type of crime.
"We will continue to investigate and prosecute individuals and groups involved in serious organised crime," Detective Inspector McGrath said.
"We have a strong investigative focus to work with our partner agencies and to identify and seize the proceeds of crime, including cash and assets."
Further arrests are expected and anyone with information is requested to contact Crime Stoppers.
The man will appear in the Southport Magistrates Court on February 17.
Originally published as $700k luxury cars, $1.6m cash seized in raids