A 28-year-old man was refused bail in the ACT Magistrates Court on Tuesday after police sniffer dogs found a 1 kilogram brick of cocaine in his Dunlop home.
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Police attended the home and executed the search warrant on Monday afternoon acting on information received from the public.
Jake Low, 28, was charged with trafficking in a controlled drug other than cannabis and will face court again on June 2.
ACT police Detective Superintendent Scott Moller said the seized cocaine had an estimated street value of $230,000.
Superintendent Moller said the seizure was a direct result of the Canberra community "working in association with ACT police".
He said he would expect further charges as the investigation into the drug seizure continues.
"This [seizure] was part of an organised crime syndicate and was destined for Canberra [buyers]," he said.
He confirmed there were also criminal links to outlaw motorcycle gangs involved.
While ACT police have not detected an upturn in drug seizures during the COVID-19 pandemic, Superintendent Moller said that "Canberrans have a disposable income and are among the highest users of cocaine nationally so this is a trend we are seeing that has been pretty steady for some time".
It is the largest seizure of cocaine in the Canberra region since a search warrant was executed in July last year on a Bungendore landscaping company and 384kg of cocaine was found concealed within the lifting arm of a second-hand Caterpillar excavator on the premises.
The drug shipment from South Africa had been detected at the Sydney Container Examination Facility in Botany Bay, sparking a joint operation involving NSW, federal and ACT officers and Australian Border Force.
Two Karabar men, Adam Hunter and Timothy Engstrom, were charged in relation to that shipment, valued at $144 million.