Police seize one kilo of cocaine and £10,000 after search in Croydon
POLICE have seized £10,000 and what they believe to be more than one kilo of cocaine after they searched a man in central Croydon.
Officers stopped a 35-year-old man in Wellesley Road on June 14 on suspicion of fraud.
They searched him and found £10,000 in cash.
The man was unable to explain why he had so much money with him so he was arrested on suspicion of money laundering and taken into police custody.
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His home in Pampisford Road in South Croydon was searched, and police found 86 packets of what they believe to be cocaine, with a street value of more than £260,000.
"This is a significant amount of drugs that we have taken out of circulation," said DC Jim Cann, from Croydon’s Payback Unit, which deals with investigations linked with proceeds of crime.
"We’ve also seized the £10,000 under the Proceeds of Crime Act, and we will be carrying out a full financial investigation to trace and restrain any other assets gained through illegal means."
The man was charged with possession of Class A drugs with intent to supply and remanded in custody to appear before Croydon magistrates later this month.