A 51-year-old man has been charged after police seized millions of dollars worth of suspected stolen cash during a raid on a property near Cessnock as part of Operation Ironside.
Christopher John Mealey did not apply for bail - and it was formally refused - when he faced Cessnock Local Court on Thursday on one count of dealing with property reasonably suspected of being proceeds of crime.
Australian Federal Police and NSW Police Drug and Firearms Squad detectives swooped on the Quorrobolong property on Wednesday.
They allegedly found and seized 49 bundles of $1000 cash - an estimated total of $4.9 million - hidden inside the wall of a colour bond shed.
They also seized two motorcycles, two other vehicles and several designer handbags.
Police allege investigators found what they suspect to be an encrypted communications device, which appeared to have been burnt in a fire.
Mr Mealey will face court again on August 4.
Operation Ironside is a global police co-operative involving law enforcement authorities from Australia, the USA and Europe.
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