Police have made the largest cocaine seizure in Australian history following an investigation into a transnational organised crime syndicate accused of conspiring to import more than two tonnes of the drug into Australia.

Australian authorities seized over two tons of cocaine over the weekend worth nearly $500 million after the fishing boat that smugglers used to sail the drugs into Australia broke down — the largest ever seizure of cocaine in Australia.

Australian Police have seized 2.3 tonnes of cocaine from a broken-down boat off the coast of Queensland, authorities said on Monday. Eleven men and two juveniles were arrested, including the vessel's crew and others waiting on the shore to collect the illegal shipment.

Australian police seized a record 2.3 tons of cocaine from a fishing boat and arrested 13 people in raids. The drugs had a sale value of $494 million and investigators told reporters in Brisbane that the drugs were transported from an unidentified South American country.

Australian police seized a record 2.3 tons of cocaine and arrested 13 people in raids after the suspects' boat broke down off the coast of Queensland, authorities said Monday. The drugs had a sale value of 760 million Australian dollars ($494 million) and equaled as many as 11.

This is the biggest haul of cocaine ever seized in Australia, with an estimated resale value of AUS $760m (£388m), police said. The drugs came from an unidentified country in South America, investigators in Brisbane said on Monday.

Australian police seized the country’s largest haul of cocaine aboard a fishing boat that had broken down near the coast of Queensland, arresting 13 people alleged to be part of a drug-smuggling syndicate.