The three men arrested in connection with the biggest cocaine seizure in the history of the State are due before Clonakilty District Court later this evening.
The men, all British, were arrested on Thursday night on board the 60 foot yacht Dances With Waveswhen gardaí and Customs officials seized €700 million worth of cocaine on board.
The drugs were transferred under tight security to Garda headquarters in Dublin for analysis.
The yacht, which left the Caribbean three weeks ago, was packed with 75 packages of cocaine, each weighing 25 kilograms. A detailed forensic examination of a luxury yacht has started.
It was detained 257km (60 miles) west of Mizen Head during a joint operation on Wednesday night and yesterday morning. It involved gardaí, Customs officers and the Naval Service. A boarding party from the LE Niamh carried out a search of the yacht and found a large number of packets of cocaine.
Defence Forces Chief of Staff, Lieutenent General Dermot Earley paid tribute today to the armed units, travelling in rigid inflatables from the ship, who boarded the yacht at night, in poor weather, some 150 Nautical Miles from the coast and arrested the men.
The vessel had been tracked from the Caribbean across the Atlantic until it was intercepted by Irish authorities.
It is believed the seizure is the biggest in the history of the State with estimates varying from €500 million to €700 million. This exceeds the 1.5 tonnes of drugs, worth €440 million, recovered last year from Dunlough Bay, near Mizen Head in west Cork. It is thought the drugs were not intended for the Irish market and were more likely destined for the UK.