North-West Metro Regional Crime Squad detectives have seized more than $420,000 in cash from a home in Pascoe Vale today as part of an ongoing investigation.
Officers executed a warrant at a property on Downs Street about 9.40am.
The cash was located inside a safe secreted at the property and was seized.
The resident, a 73-year-old man, was arrested for negligently deal proceeds of crime and was later released pending further enquiries.
A 48-year-old Pascoe Vale man will be charged in relation to the cash allegedly being proceeds of crime.
He will appear before the Melbourne Magistrates’ Court on 10 December.
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