Police have seized a Ferrari, cocaine, thousands of painkillers and a large amount of cash while raiding a Canberra car dealer.
Nicholas Kozac, 24, appeared in the ACT Magistrates Court yesterday, facing charges of money laundering, drug trafficking and possessing property suspected of being stolen.
He was freed on bail under strict conditions, including to report daily to police.
Mr Kozac's brother also paid $10,000 as a surety while police investigate his business dealings.
Court documents show that, during the raid, police seized thousands of Panadol Extra capsules.
They said these drugs were significant because they could be used as a cutting agent for cocaine.
Police also allegedly uncovered evidence of money laundering, which they are investigating further.
Prosecutors had opposed bail, but defence lawyer Michael Kukulies-Smith told the court Mr Kozac was entitled to be freed as he had a clean record.
Mr Kukulies-Smith also pointed out Mr Kozac had known since June last year he was under surveillance, after several interactions with police.
On one of those occasions, police seized items from him before later returning them.
Mr Kukulies-Smith reminded the court that Mr Kozac was a car dealer.
"The presence of money or cars is very different [than if ] he were a labourer."
However, prosecutors said police had discovered drug paraphernalia during the raid, and there was a clear inference that Mr Kozac was selling large quantities of cocaine, motivated by profit.
Police said that, as part of their ongoing investigation, they would speak to people who might have bought cars from Mr Kozac.
The case will return to court in April.
