Smugglers have been caught trying to bring 1.4 tonnes of cocaine into NSW on a yacht after they'd picked up the drugs from a so-called "mother ship" in international waters, authorities say.
Six men aged between 32 and 66 now face the prospect of life imprisonment over what police say is the biggest cocaine seizure ever in Australia.
The drug could have netted organised criminals $312 million once sold.
New Zealand authorities first tipped off their Australian counterparts about the 12-metre yacht Elakha in August 2014, after gathering intelligence about its owner and crew.
The boat, allegedly crewed by New Zealander Hamish Thompson, 63, and Swiss-Fijian Valentino Fries, 54, made its way to a cocaine "mother ship" waiting in the south Pacific Ocean on Thursday night.
But the plan came unstuck just after midnight when the yacht, on its return journey, was intercepted by the Australian HMS Bathurst 370km east of Sydney.
Australian Federal Police Acting Deputy Commissioner Neil Gaughan says the bust reveals the cross-border nature of drug syndicates.
"They're interested in bringing misery to the Australian community and all they really care about is lining their own pockets," he told reporters in Sydney on Monday.
Thompson and Fries each face a charge of importing a commercial quantity of a border-controlled drug.
They appeared in Sydney's Central Local Court on Monday where their matters were adjourned until Wednesday.
Three other members of the alleged syndicate - 66-year-old David Wren, 63-year-old Kevin Michael Geraghty and 62-year-old Glen James Willcox - appeared in Nowra Local Court on Friday.
Yahay Magdalawi, 32, appeared in Parramatta Local Court on Saturday.
The four - who were arrested in Sydney and on the south coast - are charged with importing a commercial quantity of a border-controlled drug.
It's alleged they'd organised to bring the stash ashore. All four are due to reappear in Central Local Court on Wednesday. None of the six men was granted bail.
"They've known each other for considerable periods of time, we're saying decades," Mr Gaughan said.
He dismissed as "a misnomer" the notion that Australian authorities were restricted in how they could pursue offenders in international waters.
"The courts will ultimately make a decision whether or not our actions were lawful," he said.
"But we are of the very strong belief that we were acting within the law and acting in accordance with the legislation as it currently sits in Australia."
Police also seized large amounts of cash, jewellery and electronic items during the NSW raids.
Federal Justice Minister Michael Keenan predicts the "ground-breaking" police operation will drive up the price of cocaine in Australia.
"Clearly this is an enormous blow to supply of illicit drugs in Australia, particularly cocaine," Mr Keenan said.
Mr Gaughan said the mother ship was "currently subject to investigation".
