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3,400 pounds of cocaine seized from boat

The U.S. Coast Guard seized 3,400 pounds of cocaine from a go-fast boat off the coast of Panama, and the drugs were brought ashore in Miami on Wednesday morning.

The crew of the Key West-based Coast Guard cutter Thetis intercepted the boat Dec. 10 about 162 miles off the coast of Colon, Panama. Coast Guard officials said they found 62 bales of cocaine aboard the boat and the three occupants were taken into custody.

The cocaine has an estimated value of $48 million.

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