The huge shipment of cocaine was discovered by Australian Border Force agents in Melbourne before it was collected and taken to a home in Sunshine North, where police attacked the men.
A 39-year-old Spotswood man, 26-year-old Reservoir man and a 66-year-old Greek foreign national were arrested during the raid on Tuesday.
Police also searched two homes in Spotswood and Reservoir, and two commercial properties in Toorak and Kingsville, seizing two Mercedes-Benzes, a Harley Davidson motorcycle, luxury watches, jewelry, clothing, various drugs and cash.
The 39-year-old Spotswood man and the 26-year-old Reservoir man were subsequently charged with importing a commercial amount of border-controlled drugs and attempted possession of a commercial amount of border-controlled drugs.
They were remanded in custody as they appeared before the Melbourne Magistrates’ Court on Wednesday.
The Greek national was released pending further investigation.
Police had been investigating the men involved in previous border controls of drug imports for four months.
AFP Detective Inspector Mark McKiernan said the indicted men were considered “key” members of the drug syndicate, with the drugs likely turned over to criminals linked to serious organized crime.
“We are sending a strong and clear message to organized crime today. We will not stop. We are coming after you,” he said.
Detective Inspector McKiernan said cocaine has caused a range of problems in the community.
“Some in the community believe that cocaine is a safe drug,” McKiernan said.
“Let me be clear – it is not – and just as importantly, the transnational serious organized criminals targeting Australia are also undermining our national security, economy and social security system.
“We also know that drug trafficking can lead to drug wars on our streets and in source countries, and often law-abiding citizens can be the collateral damage of that violence.
“Illegal drug trafficking can also fund other horrific crimes, such as human trafficking and sexual slavery.”
Anyone with information about drug trafficking is asked to contact the police.