Police seize 24kg of gold worth more than $3m in huge Taylors Hill meth ring bust

Police have seized more than $3m in gold bullion and $1.5m in cash as part of a mammoth meth ring investigation in Taylors Hill.

Detectives have seized more than $3m worth of gold while investigating an alleged meth ring. Picture: Victoria Police

Organised crime detectives investigating an alleged meth ring have seized more than $3m worth of gold, over $1.5m cash and 100,000 illicit cigarettes.

Three people were on Tuesday arrested after a lengthy VIPER task force investigation into the alleged supply and distribution of methamphetamine in Melbourne’s north.

Detectives executed three search warrants at homes in Taylors Hill and Kealba and a storage facility in Brooklyn where they seized huge proceeds of crime.

Items seized at Taylors Hill included $1m worth of cash, $250,000 worth of luxury handbags and about $500,000 worth of gold bars.

Detectives have seized more than $3m worth of gold while investigating an alleged meth ring. Picture: Victoria Police

A Taylors Hill woman, 35, was arrested and interviewed before she was released pending further inquiries.

About 750kg of loose leaf tobacco, or “chop chop”, with a value to illicit retailers of $250,000, was seized from the Brooklyn storage joint.

At a home in Kealba, near Keilor, officers located 100,000 illicit smokes, around $250,000 worth of luxury handbags and more than $100,000 in cash.

A 50-year-old man and a 49-year-old woman inside the home were arrested and released pending further inquiries.

A further 24kg of gold bullion, worth $3.3m, and $750,000 in cash was also seized from a storage vault in the CBD.

Detective Inspector Mark Newlan said the three alleged crooks had pocketed huge proceeds of crime.

“The illicit drug supply chain is littered with harm and every single time methylamphetamine spreads its way onto our streets it fuels more violence, crime and drug addiction,” he said.

“These are incredibly significant proceeds of crime seizures which have been acquired by organised criminals determined to line their pockets through illicit means and ultimately, to the severe detriment of the rest of the community.”

The investigation into the alleged meth syndicate is ongoing.