Australia: Police seize $186 million worth of cocaine

More than 1,500 pounds of cocaine, worth an estimated $186 million, were seized from a yacht in the state of New South Wales, Australian police said.

Three men were also arrested in Australia as part of a multi-agency investigation into drug trafficking, according to the Australian Federal Police.

Investigators tracked the yacht as it travelled from the South Pacific bound for New South Wales. When it reached Lake Macquarie, in New South Wales, authorities boarded the vessel and arrested a 68-year-old man, police said.

A 47-year-old man was taken into custody at a hotel in the nearby Warners Bay area of Lake Macquarie, and a third man, 63 years old, was arrested at a home in nearby Islington, according to police.

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