Police have charged a 54-year-old man from Queensland with drug trafficking and dealing with the proceeds of crime following a public place arrest in North Hobart yesterday.
As part of Tasmania Police's continued focus on public order offences in the Hobart CBD area, yesterday afternoon, police approached a man who was acting suspiciously on Elizabeth Street at North Hobart.
Police will allege they located a large quantity of cash in the man's possession, and 1kg silver bullion.
Police will further allege, in a subsequent search at a home stay accommodation linked to the man, they located around 4.5kg of cocaine, and what is estimated to be around $240,000 in cash.
The cocaine seized could potentially be broken into several thousand individual street deals.
The drug is highly addictive and has the potential to do significant harm in the community.
The man has been charged with trafficking a controlled substance (major offence) and dealing with proceeds of crime.
He has been detained to appear in the Hobart Magistrates Court today.
