Johnny Lam: $2.5M cash, 2.5kg of coke allegedly found in VW vehicle

Police allegedly uncovered 2.5kg of cocaine and a staggering $2.5 million in cash following the search of a Volkswagen SUV in Sydney’s CBD. A man has been charged and his matter has been mentioned in court.

Police allegedly seized 2.5kg of cocaine and $2.5 million in cash. Picture: NSW Police

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UPDATE

A drug dealer has admitted to supplying a large amount of cocaine after being busted in an inner suburb of Sydney following a tip off to police.

Johnny Lam, 29, from Casula, was arrested on October 1 last year when investigators searched a unit in Haymarket as well as a Volkswagen SUV located nearby.

Police uncovered a large amount of cocaine, as well as cash, and arrested Lam at the unit.

Lam was charged over the bust and entered a guilty plea on Thursday (June 1) to supply prohibited drug large commercial quantity (over 1kg of cocaine).

The maximum penalty for the offence is life imprisonment.

The court heard the agreed facts were yet to be finalised and they were not made available to the media.

Another serious charge of knowingly deal with proceeds of crime has been placed on a Form 1 and will be considered during his sentencing.

The State Crime Command’s Organised Crime Squad, Public Order and Riot Squad, and Sydney City Police Area Command were all involved in the search warrant and arrest.

At the time of his arrest, Detective Superintendent Martin Fileman called the bust “good old-fashioned policing” as it came about following a tip off to police.

Lam remains in custody on remand.

His will be sentenced in the NSW District Court and his matter will next be mentioned before the court at the end of July.

EARLIER, OCTOBER 1, 2020

Police allegedly uncovered 2.5kg of cocaine and a staggering $2.5 million in cash during the search of a Volkswagen SUV in Sydney’s CBD overnight.

Johnny Lam, 28, from Casula, was arrested this morning over the huge bust and has been charged with knowingly deal with proceeds of crime and supply prohibited drug (large commercial quantity).

Following a tip off to police, investigators searched a unit in Haymarket just after midnight this morning.

Cash found following the huge bust. Picture: NSW Police

During the search, police allegedly seized 30g of cocaine, $10,000 cash, casino chips valued at $1750, over $100,000 worth of watches, a money counter and documentation.

A search of a Volkswagen SUV was also undertaken at Haymarket with police allegedly locating suitcases, boxes and bags containing more than $2.5 million in cash and more than 2.5kg of cocaine, with an estimated street value of $1.25 million.

All items were seized and will undergo further examination.

Lam was arrested at the unit and taken to Surry Hills Police Station where he was charged.

His lawyer Angelo Bilias appeared on his behalf at Central Local Court today. He did not apply for bail and Lam, who did not appear, was formally refused bail.

The alleged cocaine uncovered by police. Picture: NSW Police

His matter was adjourned until November.

The State Crime Command’s Organised Crime Squad, Public Order and Riot Squad, and Sydney City Police Area Command were all involved in the search warrant and arrest.

Organised Crime Squad Commander Detective Superintendent Martin Fileman praised the work of officers involved in the case.

“Today’s results can be directly attributed to good old-fashioned policing, with officers from across the organisation working together to remove harmful substances from our streets,” Det Supt Fileman said of the allegations.

“The cocaine that was found was broken into small amounts, clearly ready for supply in the community and with an estimated potential street value of $1.25 million.”

He warned that anyone who allegedly participated in organised criminal activities – including money laundering and drug supply – would be pursued by police and brought before the courts.

Investigations are continuing.