THE AUSTRALIAN Federal Police has charged a third man wanted over the importation of more than 300 kilograms of cocaine, discovered in coastal waters off Western Australia.

Police took the man, 49, into custody after a six-week manhunt that began after police retrieved an overturned boat off WA’s Great Southern region and allegedly found several packages of cocaine inside.

Police believe three men had been on board the seven-metre boat and collected the drugs from the ocean off Albany before the vessel capsized.

The boat was found partially submerged further west a week after three men were rescued from the ocean off Albany and told authorities they had been fishing when their cabin cruiser overturned and sank.

After the drugs were found, police began searching for the men and a Perth Magistrate then issued warrants for their arrest.

The second man connected to the drug trafficking investigation was charged earlier this month, and the first was arrested in February.

All three men have been charged with importing a commercial quantity of a border controlled drug.

One of the men charged allegedly owned the cabin cruiser, Aces and Eights, where the drugs were found. 

Another bag of cocaine had washed ashore near Denmark the day before the boat was retrieved.

Police are still investigating how and where the drugs were dropped in the ocean before the crew of Aces and Eights collected them.

AFP Sergeant Kristen Swan thanked the community for their assistance since the first packages of cocaine were found.

“Our investigation has not ended with the charging of these three men, we continue to work with our partners to track down anyone involved in this importation,” she said.

“The seizure of more than 300 kilograms of cocaine prevented millions of dollars of drug profit from flowing back into a transnational criminal syndicate to fund another illegal venture or lavish lifestyles.

“While law-abiding Australians are working hard to earn an honest day’s wage, criminals involved in drug trafficking undermine our economy. Illicit drugs also fuel more crime, family violence, trauma on our roads and the risks of violence in our suburbs.

“The AFP’s drug harm index estimates the seizure of this amount of cocaine has saved the community more than $190 million in drug-related harm, including associated crime, healthcare and loss of productivity.”

Investigations are ongoing into anyone who helped the man avoid detection for six weeks.