Following the arrests, investigators executed six search warrants across Auckland.
Police said four high-powered firearms were found at one of the addresses searched and a fifth man was arrested.
Four high-powered firearms were found during a search of an Auckland address as part of Operation Toucan. Photo / NZ Police
The five men, aged 29, 31, 32, 36 and 41, have each been charged with possession of cocaine for supply, possession of firearms and participation in an organised criminal group. They have appeared in the Auckland District Court.
The arrests followed a joint National Organised Crime Group and Customs investigation known as Operation Toucan.
Detective Inspector Tom Gollan said the seizure had prevented substantial harm in New Zealand communities.
“It’s the second seizure of cocaine in the Auckland region this week and it only highlights the lengths organised criminal groups will go to in pursuit of profit,” Gollan said.
An estimated $40 million worth of cocaine was found in South Auckland earlier this week, when officers were called to a facility after staff discovered several suspicious bags in a container.
That haul weighed 137kg and consisted of 137 individual bricks of the Class A drug.
Police said the investigation remained ongoing and further arrests or charges were possible.