Drugs, $5 million in cash seized during Melbourne police sting

A 47-year-old man has been arrested and at least $5 million cash and drugs have been seized during a police sting in Melbourne.

Police intercepted a South Australian man driving a truck on Dorcas Streeet, Southbank about 9.30pm.

The Echo Taskforce executed a search warrant and discovered a large amount of cash, believed to be at least $5 million, as well as a quantity of drugs.

The man has been charged with knowingly possessing proceeds of crime with intent to conceal the proceeds of crime, trafficking cocaine and possessing cocaine.

He will appear at Melbourne Magistrates' Court this afternoon.