Police and Coast Guard officers arrested five people as suspected members of a cocaine smuggling gang during a raid on the island of Mykonos on Thursday.
Among the suspects is a 40-year-old man who is believed to be the leader of the ring.
Officers seized a total of 773 grams of unadulterated cocaine, a quantity that was carefully hidden in the back of an electric stove, in the parking lot of a transport company.
Police believe the full quantity that would end up on the market exceeds 1.5 kg (with additions and adulterations), bringing an estimated profit of 150,000 to 180,000 euros.
The raids in houses where the suspects lived also produced 10 mobile phones, 2,350 euros in cash and hand-written notes.
The arrests followed months of investigations from Thessaloniki’s Security Police.
The suspects are expected to appear before a prosecutor in Syros later on Friday.