The U.S. Coast Guard has offloaded 12 tons of seized cocaine and a ton of confiscated marijuana with a combined street value of nearly $1 billion, the Miami Herald reported.
The drugs were shown to reporters at Port Everglades in Fort Lauderdale, Florida on Tuesday. They were seized off the coasts of Central and South American by various Coast Guard cutters in 17 pick-offs of smuggling boats, according to the newspaper.
Using Miami street prices from Narcotic News, the newspaper put the estimate for the 24,886 pounds of cocaine at between $622 million to $1.3 billion.
Based on figures from Bloomberg News, it estimated the 2,664 pounds have a Miami street value of $11,225,127.
The newspaper noted the drugs have a total wholesale value of $390 million.
And CBSMiami reported Coast Guard officials said the confiscation of the drugs sends a tough message to smugglers.
"Today's offload sends them a message that our network of partners and allies remains resolute in our commitment to stem the flow of illicit trafficking that breeds instability," said Cmdr. Jonathan Carter of the Coast Guard Cutter Legare.
"This is a dangerous mission. It's a mission that requires highly skilled operators, it requires intense training and preparation," Carter said.
U.S. Coast Guard Petty Officer Third Class Brandon Murray told the New York Post that confiscated drugs are normally sent to federal labs for testing. Some of the drugs are retained as evidence for subsequent trials. The Drug Enforcement Administration destroys the remainder in a "controlled lab facility," he said.
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