Australian Police Find Dead Diver With $14Mln Worth of Cocaine on Shore in Newcastle

MOSCOW (Sputnik) - The body of a diver with a bag containing 50 kilograms (110 pounds) of cocaine worth about $14 million has been found on a river bank in the town of Newcastle, the police in the Australian state of New South Wales said on Tuesday.

"Organised Crime Squad detectives have commenced an investigation after the body of a diver and more than 50kg of cocaine were located in the Hunter River at Newcastle yesterday," the statement read.

According to police, а potential street value of the found cocaine was estimated at 20 million Australian dollars or about $14 million. Police divers continue to search the surrounding waters, with the investigation to be supported by the Australian Border Force, the statement added.

Later in the day, Organised Crime Squad's chief detective Rob Critchlow told reporters that police has already achieved a substantial progress, as another 50 kilograms of cocaine were located in a nearby vessel. The ship registered in the Marshall Islands was expected to depart for Argentina next week, he said, adding that the overall amount of this cocaine shipment could reach 300 kilograms.

"I can confirm it appears to be a lot more than what has been retrieved from the ship," Critchlow was quoted as saying by Australian broadcaster ABC News.

At the same time, the detective noted that apparently some portions of the cocaine sought had already been delivered to the streets by members of this organised drug trafficking group.