Man, 71, charged in Qld cocaine ring bust

A million-dollar interstate cocaine ring selling the drug in southeast Queensland has been brought down by police, with a 71-year-old man the latest charged.

A two-year investigation into the syndicate, which allegedly trafficked the drug from Sydney to the Gold Coast, was closed by the Crime and Corruption Commission on Thursday.

Detectives say the network sold cocaine across southeast Queensland.

A total of 31 people have now been charged in the state, including eight on trafficking offences which carry a maximum penalty of 25 years prison.

A further four people have been charged by NSW Police.

Drugs with a street value of $1.49 million were seized in December 2014 from a car at Coffs Harbour, believed to be travelling to Queensland.

CCC acting executive director of crime Michael Scott said cocaine often attracted organised crime groups.

"(The drug) is likely to continue to attract organised crime groups attempting to establish a greater foothold in Queensland," he said.

The 71-year-old man is accused of possessing money in relation to the syndicate.