London cops disrupt $200M cocaine ring

LONDON, Feb. 13 (UPI) -- London police stormed through a hole in a house made by a backhoe in a raid believed to have disrupted a $200 million international cocaine ring, Sky News said.

Police organized more than two dozen raids on an alleged cocaine and money-laundering operation working from a taxi business in what is described as the largest such operation in the history of the force.

Sky News said Wednesday the gang allegedly changed British currency into euros and invested that money in real estate and other bank accounts.

Detectives said the ringleaders lived luxurious lifestyles. Earlier raids seized almost $6 million in cash and about 155 pounds of cocaine.

More than $200 million in drug money worked its way through foreign currency exchange bureaus and police officials allege up to $8 million per week was laundered through the taxi company, Sky News said.