More than €500,000 in cash was found by the police on a boat intercepted off Malta, a court heard yesterday.

Police Inspector Rennie Stivala said that the Armed Forces of Malta intercepted the boat that was used to ferry employees, equipment and supplies to larger vessels.

He said he went to Marsa last June 27 where the Seastorm was berthed and guarded by the AFM. On board were five foreign men and the captain, Darren Gouder, 34, of Valletta. In a search, the officer said he found €530,000 inside a paper bag that had been placed in a plastic bag.

The men were arrested and arraigned the following day.

In a police statement, Mr Gouder told the police that the money was not his and he was acting on orders from the company that owned the boat. He said he was not aware of how much money there was in the bag. According to law, any amount exceeding €10,000 has to be declared.

If found guilty of the charge, Mr Gouder would have to hand over €520,000 and pay a 25 per cent fine calculated on the whole sum.

The case continues.